Recently, the price of Dogecoin (DOGE) fell from around $0.129 to about $0.121, indicating that early selling pressure was quite evident. Subsequently, the price experienced a rebound, returning above $0.125, and surged through that level in a pulsing manner. Currently, Dogecoin is oscillating around $0.129, with a strong short-term trend, as buying pressure has held below the resistance level of $0.13. As of the time of writing, the DOGE price is approximately $0.1294, having risen about 0.48% in the past 24 hours.

From the perspective of large holders, since late October, DOGE has retreated from the $0.08–$0.09 range to around $0.07 in early December, with a noticeable decrease in whale holdings, reflecting concentrated selling. However, after the price stabilized, whale holdings have remained relatively unchanged, with both buyers and sellers entering a wait-and-see mode. Analysts point out that this silence is more about the uncertainty of the current price range rather than a clear bearish outlook. Currently, Dogecoin is hovering near a key support level, with price fluctuations mainly driven by retail trading and short-term momentum. Historical experience shows that when whales maintain low participation near support levels, the market often prepares for a directional choice; once new funds enter, it could push the price to test higher resistance levels; conversely, it may retest support.

In addition, DOGE recently broke through a long-term trend line, similar to the upward cycles from 2014 to 2017. In past cycles, Dogecoin completed a breakout after holding support for many years, entering a phase of rapid price increase. Analysts believe this breakout may be an early signal of a long-term momentum shift, and if the price continues to hold above the trend line, it is expected to confirm the start of a new bull market for Dogecoin.