Dogecoin whales bought over 200 million DOGE in a week as SpaceX IPO news took over. Analysts say the key $0.06–$0.08 support zone could decide DOGE’s next major move.
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Dogecoin may be quietly setting up for one of its most important moments this year.
While most traders remain focused on Bitcoin’s recent volatility, large Dogecoin holders have been steadily accumulating. According to crypto analyst Ali Martinez, whales bought more than 200 million DOGE over the past week alone.
The buying comes as Dogecoin sits near a major support zone that has historically marked the beginning of some of its biggest rallies.
Adding to the excitement is the growing buzz around the upcoming SpaceX IPO, a topic that has once again brought Elon Musk-related assets into the spotlight.
Ali believes Dogecoin is currently trading at a critical point.
Since 2021, DOGE has moved inside a massive multi-year channel. Every time the meme coin has approached the lower end of that structure, buyers have eventually stepped in and pushed prices higher.
Right now, Dogecoin is hovering around $0.081, a level Ali describes as one of the most important support zones on the chart. If buyers continue defending this area, it could become the foundation for the next major move higher.
Rather than chasing short-term price swings, Ali argues that investors should focus on these larger structural levels where risk and reward become more attractive.
The chart is not the only thing supporting Dogecoin.
On-chain data shows that more than 30 billion DOGE last moved around the $0.081 level. That creates a huge concentration of holders who entered near current prices, making it a natural area of support.
More importantly, whales appear to be taking advantage of the weakness. The purchase of over 200 million DOGE in just seven days suggests large investors are positioning themselves before the market decides its next direction.
For many traders, whale accumulation often matters more than social media hype because it reflects where significant capital is actually moving.
Another factor attracting attention is the upcoming SpaceX IPO.
There is no direct link between Dogecoin and SpaceX. However, Elon Musk’s long history with DOGE means many investors still associate the two. As excitement builds around what could become one of the biggest IPOs in history, some traders believe that renewed attention on Musk-related projects could spill over into Dogecoin.
That doesn’t guarantee a rally, but it does create another narrative that could attract buyers back to the market.
Ali’s strategy is simple. He views the area between $0.081 and $0.058 as a long-term accumulation zone.
If the current support holds, Dogecoin could begin building momentum toward higher channel targets. If it breaks down, the next major support sits near $0.058, where Ali would continue accumulating.
For now, the key takeaway is clear: whales are buying, support remains intact, and a fresh wave of SpaceX-related attention is putting Dogecoin back on investors’ radar. Whether that leads to a major breakout remains to be seen, but DOGE is once again becoming one of the most closely watched coins in the market.
On the price front, Crypto analyst Daan Crypto Trades recently pointed out that DOGE has historically returned to the $0.06–$0.08 range during major bear market phases. According to him, this zone has repeatedly acted as a strong support area where buyers eventually step in and trigger meaningful rebounds.
While Dogecoin already tested this region earlier this year, Daan noted that the current trading range remains wide enough that the level still deserves close monitoring. He views it as one of the most important high-timeframe support zones on the chart.
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