Dogecoin Price Eyes Recovery as Whales Buy 600M DOGE

Highlights:

• Ali Martinez sees a possible Dogecoin rebound near $0.081, where around 36 billion DOGE previously traded.
• Dogecoin whales reportedly added 600 million DOGE since October 12, supporting the analyst’s bullish outlook.
• Martinez sees $0.16 to $0.17 as potential selling levels if Dogecoin rebounds above $0.081 support.

Dogecoin (DOGE) could be approaching a price recovery as large investors increase their holdings near an important support level. Crypto analyst Ali Martinez has identified three signals that could help the meme coin rebound. However, his outlook depends on whether buyers can defend the $0.081 area.

In an October 16 post on X, Martinez pointed to a technical buy signal, a large concentration of previous purchases around $0.081, and recent buying by large DOGE holders. He also identified $0.16 to $0.17 as a possible profit-taking area if the price recovers.

Dogecoin Buy Signal Appears Near $0.081 Support

Martinez said the TD Sequential indicator flashed a buy signal on Dogecoin’s daily chart near $0.081. Traders use this indicator to spot when an extended price move may be losing strength. A buy signal can suggest selling pressure is easing, but it doesn’t confirm a rebound has begun.

The analyst’s second reason comes from on-chain data. Glassnode’s UTXO Realized Price Distribution (URPD) data shows that about 36 billion DOGE were previously acquired around $0.081. URPD tracks how much of a cryptocurrency’s supply last moved at different prices. A large concentration can draw attention because many investors have an entry price near the same level.

Some holders may choose to buy or hold around their original purchase price. That could provide support, but strong selling pressure can still push DOGE below that level. Martinez acknowledged that the large number of tokens traded there does not guarantee buyers will defend the level.

Dogecoin Whales Reportedly Accumulate 600 Million DOGE

Dogecoin whales have bought around 600 million DOGE since October 12, according to analyst Ali Martinez. He shared Santiment data showing that large holders increased their holdings as DOGE traded near $0.081.

The buying comes as Dogecoin tests a key support level. Martinez believes the recent whale purchases could help DOGE recover. However, the price still needs stronger buying demand to hold above $0.081 and move higher.

4/6 Third, whales appear to be buying near that support.

Since October 12, large holders have reportedly added about 600 million $DOGE. Their accumulation adds weight to the buy signal and the on-chain support zone. pic.twitter.com/NXhUxvPDWo

— Ali Charts (@alicharts) October 16, 2026

Dogecoin Price Outlook: Can DOGE Reach $0.17?

If Dogecoin rebounds and holds above $0.081, Martinez sees $0.16 to $0.17 as a possible profit-taking zone. He bases his forecast on another concentration of past purchases. Glassnode cost-basis data shows that around 12 billion DOGE were acquired near $0.16, while another 14 billion DOGE changed hands around $0.17. Investors who bought at those prices may decide to sell if DOGE returns to their entry levels.

At the time of writing, Dogecoin was trading around $0.08027, down approximately 2.8% over 24 hours, according to CoinMarketCap data. The price was slightly below Martinez’s key $0.081 level. A move back above that level could strengthen the recovery case. However, continued trading below it would weaken the setup, regardless of the recent buy signal and whale activity.