Recent on-chain data reveals a significant surge in Dogecoin (DOGE), as prominent investors known as whales have amassed over 600 million DOGE in just the past two days. This buying spree coincides with Bitcoin’s remarkable rally, which has seen its price soar past $100,000 to reach an all-time high since the beginning of the year. Dogecoin benefits from this positive momentum, experiencing a substantial 35% value increase within the last week. Why is there such whale activity in DOGE? Analysis by Ali Martinez indicates that these large investors have accumulated over $140 million worth of DOGE since Friday. The cryptocurrency market’s resurgence has motivated whales to focus on Dogecoin. This latest surge in interest is largely driven by Bitcoin’s bullish trajectory, which has boosted its value beyond $104,000 and solidified Dogecoin’s position within this rising wave. Dogecoin’s price has surged to $0.259, indicating a rapid build-up of momentum. What are the key factors driving Dogecoin trading? Dogecoin has experienced a notable 2.26% increase over a 24-hour period, bringing its price to $0.2334. This rise follows three consecutive days of growth tempered by minor losses. For the week, Dogecoin trails only Ethereum in percentage gains. In recent days, Dogecoin futures have witnessed significant growth as open interest has climbed 9.84% in a single day, reaching a new high of $2.85 billion according to CoinGlass data. A crucial resistance level for Dogecoin is pegged at $0.259. This level poses a significant challenge for potential buyers. Should the trend slow down, Dogecoin’s price could oscillate between its daily 50-day simple moving average (SMA 50) and the SMA 200. The recent trajectory of Dogecoin highlights its potential to attract substantial market influence as long as it can overcome key resistance points and maintain upward momentum. However, the outcome depends on the performance of Bitcoin, investor reactions, and other factors.