SpaceX Says DOGE Accepted, Whales Say Same: 240M Bought, Bottom Maybe Loading 🚀

Dogecoin ($DOGE) is down 3% in the past 24 hours and 10% on the week, even as Elon Musk confirmed that full payment for the SpaceX IPO will be accepted in $DOGE, a step previously backed by Justin Sun when SpaceX first announced it would take the memecoin. The broader memecoin market has lost more than 4% over the same period, leaving $DOGE's market capitalization on the decline despite the renewed payment headline.

On-chain data from Santiment shows whale accumulation returning in force, with large holders purchasing more than 240 million $DOGE over the past week. Whale holdings rose from 18.60 billion $DOGE to roughly 18.84 billion $DOGE, an average of more than 40 million $DOGE per day over the past five days. That pace of accumulation has not been recorded since Musk's 2021 announcement that SpaceX would accept $DOGE payments.

Dogecoin is currently trading near $0.08044, a zone that previously launched the move toward $0.50 and has acted as a recurring support area across prior bear market cycles. The $0.06–$0.08 range has repeatedly attracted long-term holders and spot buyers, and UTXO Realized Price Distribution (URPD) data shows more than 30 billion $DOGE last moved near $0.081, underscoring its role as a major psychological and financial support level.

A move from the current area to the local range high at $0.11824 would represent a gain of roughly 47%, though $DOGE has yet to print a clear reversal signal. Market structure suggests confirmation would require a successful reclaim of $0.11824 as support, a level traders have tested in mid-2024 and again in February. Traders are watching whether whale accumulation, URPD positioning, and the weekly chart structure can translate into a durable bottom after nearly two years without revisiting the zone.