Dogecoin, known as the pioneer among memecoins, experienced a surge in popularity that led to a significant bullish trend in the market. However, trader activity diminished over time, reducing the token's volatility. Additionally, whale interest in Dogecoin waned, resulting in market participants becoming less responsive to minor price changes.

Recent reports indicate a shift in the market dynamics of Dogecoin, with whales showing renewed interest in the token, hinting at a possible upcoming rally. Data from Santiment, shared by an analyst named Ali, reveals that whales have been actively accumulating DOGE after a period of decline.

The data shows that whales holding between 100 million to 1 billion DOGE have accumulated over 700 million DOGE in the last 72 hours, amounting to approximately $112 million. This accumulation potentially signals a significant price movement in the near future. Dogecoin has remained below $0.18 for an extended period, and a strong rebound from current levels could kickstart a fresh rally.

Analysis of DOGE's price action indicates a gradual upward trend towards its previous highs. Despite ending the previous month on a bearish note, bullish sentiment has started to regain strength, as evidenced by the MACD turning bullish and moving into positive territory. This signals a potential continuation of the rally despite occasional bearish pressures.

In conclusion, Dogecoin's price is striving to maintain a bullish trajectory and is anticipated to close the monthly trading above the local highs at $0.2. This could mark the beginning of a new upward trend if bulls demonstrate resilience at these levels.