Karla Barker 
Reversal Pattern Forms as Large Holders Accumulate
Dogecoin is showing some interesting technical signals that have traders watching closely. After trading around $0.14 with a slight pullback, the mood seems to have shifted in the past day. The launch of the Grayscale Dogecoin ETF, ticker GDOG, appears to have improved sentiment around the meme coin.
What caught my attention is this reversal structure that formed on the daily chart. Between early November and late November, Dogecoin made a lower price low while the RSI indicator actually made a higher low. This bullish divergence pattern often shows up toward the end of downtrends, and right after this signal appeared, DOGE climbed more than 15%.
But here’s the thing – the move seems supported by actual buying from large holders. The group holding between 100 million and 1 billion DOGE increased their holdings from 35.34 billion to 36.31 billion starting around November 19th. Then another cohort, those holding 1-10 million DOGE, began adding on November 22nd, raising their balance from 10.85 billion to 10.92 billion.
Together, these two groups added about 1.04 billion DOGE, worth roughly $153 million at current prices. That’s significant accumulation after a period of relative quiet.
The Real Challenge: Breaking Through Resistance
Despite the ETF excitement and whale accumulation, Dogecoin now faces what might be its biggest test in weeks. Looking at the cost-basis heatmap, there’s a dense cluster of about 7.03 billion DOGE sitting between $0.17 and $0.18.
That represents over $1.20 billion worth of coins held by traders who might be looking to sell into any strength. Until Dogecoin can close decisively above $0.18, the reversal setup and whale support can’t really play out fully. Every bounce attempt might fail if broader market conditions weaken.
I think the chart makes it pretty clear – the real battle isn’t in the initial bounce we’ve seen, but in breaking through this resistance zone.
Key Levels to Watch
For Dogecoin to build momentum toward that $0.17-$0.18 wall, it first needs to reclaim $0.17 on the price chart. This level has rejected every rally attempt since early November, so breaking it would be meaningful.
If DOGE can actually push through $0.18 cleanly, that opens the path toward $0.21, which aligns with Fibonacci levels and the next major supply zone. But on the downside, the invalidation point sits at $0.13. A daily close below that level would break the reversal setup and suggest that the ETF optimism and whale accumulation weren’t enough to sustain strength.
It’s interesting to see Dogecoin with a stronger technical setup than earlier this month, but the chart tells the story – the real confirmation of bullish momentum still lies ahead. The ETF launch and whale buying have set the stage, but breaking through that resistance is what really matters.