Dogecoin above support, whales buy $14M, open interest $1B

Dogecoin held steady above a key support level on Tuesday, July 21, 2026, as significant accumulation by large investors and a surge in derivatives trading activity drew renewed attention to the meme cryptocurrency. The price hovered around $0.072, maintaining its position above the critical $0.070 support zone.

Large holders, often referred to as whales, acquired 200 million DOGE tokens through the Robinhood trading platform in a transaction valued at approximately $14 million. Such substantial purchases are typically viewed as a sign of confidence and can influence near-term market sentiment. Concurrently, activity in the derivatives market spiked, with trading volume surging 114% to roughly $739.56 million in a single session. The total value of outstanding derivative contracts, known as open interest, also increased by 3.74% to reach $1.08 billion, indicating fresh capital flowing into leveraged positions.

Despite the heightened activity, daily inflows into Dogecoin spot exchange-traded funds dropped to zero on July 17, according to data from SoSoValue. Cumulative net inflows remained stable at $11.77 million, with total net assets across all DOGE ETF products standing at...