TLDR
- DOGE is trading near $0.070 with bullish momentum divergence suggesting selling pressure may be fading
- Whale wallets have accumulated 180 million DOGE tokens, buying the recent dip
- Long-to-short ratio hit 1.27, the highest in over a month, signaling bullish trader sentiment
- Funding rates turned positive on July 24 and are steadily rising
- Key resistance sits at the 50-day EMA ($0.074), while support holds at $0.067
Dogecoin (DOGE) is trading around $0.070 as of Tuesday, holding just above a key psychological support level. While the price remains below major moving averages, several on-chain and derivatives signals point toward a possible recovery.
Whale wallets have been steadily buying DOGE during the recent dip. According to Santiment’s Supply Distribution data, wallets holding between 10 million and 100 million DOGE have accumulated around 180 million tokens since Saturday. At the same time, smaller wallets in the 100,000 to 1 million range sold approximately 10 million tokens.
This buy-the-dip behavior from large holders points to continued long-term interest in DOGE at current prices.
Crypto analyst Ash Crypto noted on social media that DOGE is now at its most oversold levels ever, down 90% from its all-time high and hitting a 3-year low at $0.067. He pointed out that the monthly RSI is now more oversold than it was during the 2022 market bottom, raising the question of whether this could be a bottom signal for DOGE.
$DOGE is now at its most oversold levels ever.
– Down 90% from its ATH.
– It has hit a 3-year low at $0.067.
– Monthly RSI is now more oversold than during the 2022 market bottom.Could this be a bottom signal for DOGE? pic.twitter.com/6L3ejbRvU7
— Ash Crypto (@AshCrypto) August 4, 2026
Derivatives Data Turns Bullish
Derivatives metrics are also showing a bullish lean. CoinGlass data shows the long-to-short ratio for DOGE reached 1.27 on Tuesday, its highest point in over a month. A ratio above 1.0 means more traders are betting on price increases than declines.
Funding rates for DOGE flipped positive on July 24 and have climbed to 0.0096% as of Tuesday. Positive funding rates mean long traders are paying short traders, which reflects a bullish bias in the market.
Separately, on-chain data shows whales added 680 million DOGE worth roughly $48 million ahead of a possible Federal Reserve rate cut. A rate cut could boost speculative assets like DOGE.
Technical Outlook
DOGE is still trading below the 50-day EMA at $0.074 and the 100-day EMA at $0.081, keeping the short-term trend bearish. However, the RSI on the daily chart is showing a bullish divergence — price made a lower low on August 1 while the RSI made a higher low, suggesting downside momentum is weakening.
The Awesome Oscillator is also showing rising lows while price stays near its lows, further supporting the divergence signal.
Key resistance levels are at $0.074, $0.076, and $0.081. On the downside, $0.070 is immediate support, with the yearly low at $0.067 below that.
Traders are watching $0.0710 closely — a close above that level could open the door to further gains, while a drop below $0.070 could bring renewed selling pressure.
