Dogecoin (DOGE) gained 2.77% on September 3, trading at $0.088 as the cryptocurrency benefited from broader market demand for risk assets following reduced expectations for Federal Reserve rate hikes in 2026.
The price movement pushed Dogecoin above the resistance level of a falling channel on the four-hour chart, with the token closing one candle above the $0.083 upper resistance line.
Whale Accumulation Supports Price
Analyst Ali Charts reported that whales accumulated 400 million DOGE within five days, increasing buying pressure and supporting the intraday gains. The accumulation has helped Dogecoin defend the $0.0813 support level.
Retail traders also contributed to buying pressure, with $4.7 million in spot inflows recorded on September 3, according to Coinglass data. Historical data shows Dogecoin closed higher in September for two consecutive years.
ETF Outflows Signal Divergence
Despite whale buying, Dogecoin ETFs experienced $762,000 in outflows on September 2—the largest single-day outflow since July 2. The Grayscale Dogecoin ETF, which recorded these outflows, holds $7.96 million in net assets.
The outflows indicate a divergence between institutional and whale activity, with institutions selling while large holders continue accumulating.
Technical Outlook
The RSI indicator reads 76, suggesting overbought conditions that could lead to buyer exhaustion and a potential pullback to $0.080. However, green Accumulation/Distribution bars indicate bullish momentum may persist.
If the $0.083 support holds, Dogecoin could advance toward the psychological resistance level of $0.10. Concerns about inflation and a potential Federal Reserve rate decision on September 16-17 pose risks to the uptrend.
