Dogecoin (DOGE), the world’s largest and most popular meme coin, is catching the attention of crypto whales and investors due to its attractive price range. Data from the on-chain analytics firm Santiment shows that crypto whales have purchased a significant 150 million DOGE in the past three days.

Crypto Whales Buy 150 Million DOGE

This substantial purchase occurred while DOGE was consolidating near a crucial support level of $0.185. Additionally, it indicates that whales and investors are capitalizing on the current market sentiment and bearish price action to accumulate the token, despite concerns about further price declines.

Current Price Momentum

DOGE is currently trading at $0.19 and has experienced a price drop of over 8% in the past 24 hours. During the same period, its trading volume surged by 50%, indicating heightened participation from traders and investors and reflecting the community’s bullish outlook.

Dogecoin (DOGE) Technical Analysis and Upcoming Level

According to CoinPedia’s technical analysis, DOGE is consolidating within a tight range and is currently at a crucial support level of $0.185. Based on recent price action and historical momentum, if it breaks out of consolidation and closes a daily candle above $0.21, there is a strong possibility that the meme coin could surge by 20% to reach $0.25 in the coming days.

Additionally, DOGE’s Relative Strength Index (RSI) is near 35, indicating weak momentum, which could be a key factor behind the meme coin’s ongoing struggle.

$43 Million Worth of DOGE Outflow

Another factor gaining attention among crypto enthusiasts is the ongoing outflow of DOGE tokens from exchanges. Data from the on-chain analytics firm Coinglass reveals that exchanges have witnessed consistent outflows since the beginning of February 2025, suggesting potential accumulation by long-term holders and investors.

Additionally, the data shows that exchanges have seen $43 million worth of DOGE outflows in the past 48 hours, indicating further accumulation, which could support the meme coin’s recovery soon.

When combining all these on-chain metrics with the technical analysis, it appears that investors are bullish on the meme coin but in a shorter period, the market may see some more correction.