Dogecoin eyes breakout as whales buy and DOGE ETFs inflows return

Dogecoin's [DOGE] price has been in a constant downtrend since last year's September. However, the memecoin is starting to show signs of reversal. Capital inflows from all traders are increasing even though greedy retailers are struggling. Capital inflow into Dogecoin surge Dogecoin accumulation is on. For context, a newly created wallet has opened a 20 million DOGE position with 10x leverage. The order is worth more than $2.25 million but is sitting at a loss of more than $60K at press time. The position was entered at around $0.1134 with a liquidation price of $0.1028. Additionally, more money is flowing into spot Dogecoin ETFs. Over the last eight days, half of them have experienced positive net inflows. In total, more than $1.30 million has flowed into the memecoin in May. These inflows have shattered extended periods of inactivity for Dogecoin ETFs. They still hold less than 0.1% of the memecoin's market cap. However, these figures are small compared to other traditional and crypto ETFs. This suggests DOGE ETFs are still a long way from convincing traditional investors. The data shows early capital inflows even though liquidity remains thin. Whales accumulate as retail gets liquidated From a broader perspective, the whales' positions are increasing while those of retailers are declining. Dogecoin's Whales vs. Retail Delta has increased from around 0.20 to almost 0.60. This suggests whales were buying as Dogecoin was declining. On the other hand, long positions held by retailers were getting liquidated. This behavior was synchronized across other altcoins like Solana [SOL], Ripple [XRP], and Filecoin [FIL]. The bullish signals are overwhelming the bearish ones. Hence, the price action appears to be shaping up for a reversal. DOGE eyes 200 EMA flip On the daily chart, Dogecoin's price is breaking above the slow and fast moving EMAs. The memecoin has breached the 20, 50, and 100-day EMAs but stays below the 200 EMA. The accumulation is potentially targeting breaking the 200 EMA resistance zone, which aligns with the $0.125 level. Flipping this level into support would shift the market structure of Dogecoin to a bullish one. Such a move would push it toward $0.155, which is the first resistance above that level. Conversely, failure to rise past the 200-day EMA would invalidate a potential market structure shift. Over the past few months, the price had been improving, though some treated the action as a dead meme bounce. Final Summary Dogecoin's accumulation surges as capital flows through leveraged orders, spot DOGE ETFs, and whales' buying activity.   Dogecoin's price is aiming to flip the $0.125 area into support, which would shift the market structure to a bullish trend.