Whales Buy DOGE After Musk’s America Party Launch — Could Dogecoin Rally Back to $0.5?

Elon Musk’s launch of the America Party has reignited speculation across both political and crypto circles—with Dogecoin once again at the center of attention. In response to the announcement, whale activity around DOGE has surged, signaling renewed investor interest. With its price hovering near key levels, the big question now is whether this momentum could fuel a rally strong enough to push DOGE back toward the $0.50 mark, echoing past Musk-driven highs.

Dogecoin Holds Steady Amid Market Uncertainty

Source: tradingview 

Dogecoin's price is fluctuating between about 16 and 18 cents. It shows signs of stability despite past declines. Dogecoin is aiming for 19 cents as its next challenge. If it breaks through this resistance, it might reach around 21 cents. This means a possible gain of over 15% from its current level. Meanwhile, support near 15 cents might help keep it steady if things turn south. The 10-day moving average is a bit higher than the 100-day, indicating short-term optimism. However, the RSI at 51 hints that the market is neither overbought nor oversold. Dogecoin's recent 1% rise over the last week offers hope for potential growth ahead.

Conclusion

Dogecoin’s recent whale accumulation and stable technical setup suggest early signs of a potential breakout. While $0.50 remains a distant target, clearing short-term resistance around $0.21 could set the stage for a larger upward move. If market sentiment aligns with Musk’s influence and retail excitement picks up, DOGE might just be gearing up for another headline-making rally.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.