DOGE Accumulation Hits $126B Yearly High as Memecoin Eyes 81% Rally
accumulation just hit a new yahead high, suggesting the asset could be on the verge of a renewed rally.
Analysis of Dogecoin’s Accumulation/Distribution chart shows that accumulation has been steadily building, with the latest surge pushing accumulation volume to 126 billion.
This marks the highest level since the indicator began its turnaround from a low of 98 billion in December 2024, when distribution activity dominated the market.
When there is a major surge of this scale, it signals renewed investor interest and the potential for increased capital inflows into the market, which is a net positive for the .
In the past two weeks, during which purchaseing momentum was the strongest in the market, the asset recorded a modest gain of 14.4%, according to CoinGecko. also surged, crossing $3.7 billion in the past day alone.
Why This Matters
The recent spike in accumulation coincides with a well-recognized technical formation known as the ascending channel.
This pattern develops when investors consistently purchase the asset, believing it to be undervalued and likely to generate stronger returns in the future. In this setup, price action typically trends back and forth between two upward-sloping support and resistance lines, moving diagonally higher over time.
A breakout above the upper resistance line signals the beginning of a new upward movement in the market and serves as confirmation that the asset could trend significantly higher on the chart.
Closer analysis shows that DOGE is now trading within a key demand order block. If purchaseing orders at this level hold, two levels of interest emerge on the chart.
The first is $0.357, which would reflect a cumulative gain of about 33%. The second is DOGE’s all-time high of $0.48, representing an 81% rally from its current zone.
Short-term Outlook Remains Bullish
The short-term outlook for DOGE also points to further upside potential. data highlights ongoing accumulation. In the past day alone, more than $71 million worth of DOGE entered the market.
On a weekly scale, accumulation totaled $164 million worth of DOGE, the highest level recorded since August 18.
Continued spot accumulation reduces the available supply of DOGE on platforms, creating the possibility of a supply squeeze. This remains a favorable long-term dynamic for the asset.
Overall, DOGE remains in a strong position to stage a significant rally in the coming days, with the asset targeting the outlined levels on the chart.
