Dogecoin (DOGE) has surged by over 17% over the last 7 days. But, while the coin seemed primed for a more parabolic rally, its momentum has slowed down. The price of DOGE is now down by over 3% over the last 24 hours, per data by CoinMarketCap. 

However, an observation by crypto analyst Ali Charts highlights that Dogecoin’s rally is not yet over as whales show strong conviction. Other analysts also believe that the memecoin is set to breakout. But will this be the case? 

Dogecoin Whales Scoop 2B Coins Over the Last 7 Days

According to a latest post on X by Ali Charts, Dogecoin whales have been on an accumulation spree over the last 7 days. These whales have managed to scoop up over 2 billion Dogecoin over the past week, per data by Santiment. 

2 billion Dogecoin $DOGE scooped up by whales in the last 7 days. pic.twitter.com/R6EbOYZnGD

— Ali (@ali_charts) August 14, 2025

Usually large whale accumulations in such a short span of time shows that big investors are now confident in the coin. This could trigger a parabolic price movement with investors eyeing DOGE to edge higher. In fact, the large accumulation has attracted optimism across the Dogecoin community with one X user noting; 

“2B DOGE in 7 days? Either they know something we don’t… or we’re about to find out the hard way.” 

Clearly, Dogecoin whales seem to be positioning for a major rally. However, only time will tell how the price moves forward. But in the meantime, DOGE seems to be dropping potentially in tandem with Bitcoin (BTC) which has dropped to $121,000 level once more after hitting a new all-time high above $124,000. 

Dogecoin Faces Resistance; What’s Next? 

The large accumulation by Dogecoin whales could be a basis for a strong rally. But in the meantime, DOGE is facing strong resistance after an attempt to climb towards $0.25000. As of this writing, the daily chart on TradingView shows that the memecoin is trading at $0.24218 after the failed breakout attempt. 

If the price fails to shift to an upward trend from the current level, $0.23448 could offer short-term support. However, a deeper dive past this level could see Dogecoin drop to the next support at $0.22238 or even deeper to $0.020523. 

Conversely, a rebound towards the top could push Dogecoin into another breakout attempt, with the immediate resistance at $0.25012. A breach of this level could see the memecoin’s price rally towards the next resistance at $0.27382. This move would mark continuation of the bullish trend. 

Analyst Says ‘Dogecoin is Ready to Launch’

Market analyst Trader Tardigrade, has shared a strong bullish prediction for Dogecoin. Stemming from DOGE’s weekly chart, Tardigrade observes that the dog-themed memecoin is repeating a pattern experienced before the 2021 parabolic surge. 

“Doge/weekly…Dogecoin is ready to launch,” the analyst wrote. 

The analyst now speculates that Dogecoin is now heading out of a zone that he calls ‘Ready-to-launch-Box, suggesting that the memecoin could experience a parabolic surge moving forward. Back in 2021, this pattern resulted in over 800% price surge. 

If history repeats, DOGE could surge past $1 and onwards towards $5. However, this is a rather optimistic prediction bearing in mind that the coin’s all-time high price now sits at $0.73. 

Moving forward, investors must track the memecoin’s technical indicators including the RSI and MACD. These indicators as well as general crypto market sentiment could determine how Dogecoin performs, in the short-term.