There’s been an intriguing phenomenon over the past 48 hours: on-chain data shows that whale addresses have accumulated 480 million $DOGE , which, at current prices, amounts to over $70 million. Strangely, however, the price seems pinned around 0.147, barely moving. It briefly spiked to 0.1534 before being pushed back down, with an increase of less than 3%.

This kind of “large-scale buying with stagnant prices” usually suggests two possibilities in the market: either there’s an even bigger wave of sell orders queued up above, with buyers holding up the price to offload chips gradually; or it’s a final accumulation at a key level. But from a technical perspective, the hourly MACD has already crossed downward below the zero line—a classic sign of a weak rebound.

Looking at the price level: the 0.15 mark has a lot of trapped positions piled up, and several attempts to break through have failed to hold. If the price can’t break through in the next few trading sessions, the short-term support at 0.146-0.147 could be tested. The more critical defense is at 0.1444—if that’s lost, the short-term trend may have to be redefined.

So the key question now is: are these whales “bottom fishing and building positions,” or just “propping up the price for cover”? The market’s answer likely lies in whether it can hold above 0.15 in the coming sessions.