Dogecoin (DOGE) has been on a roll, delighting investors with a remarkable 8% price increase over the past week. This upswing has sparked optimism in the crypto market, with a 3% jump in the last 24 hours hinting at a continued rise. DOGE's price has reached $0.152, bringing joy to long-waiting investors.

The increasing interest in DOGE is evident not only in the spot market but also in the derivatives market. Dogecoin Futures saw a 9% increase in open interest, indicating investors' growing desire to capitalize on potential price movements through futures contracts. However, this surge has put short sellers in a precarious position, with a total liquidation of $2.27 million, known as a short squeeze. This could force short sellers to buy DOGE to close their positions, driving the price even higher.

Despite the optimism, a recent transaction by a major DOGE holder has raised concerns. Approximately 200 million DOGE, worth $30.86 million, was transferred to the trading platform Robinhood, leading to speculation that the whale may be preparing to cash out its assets. This could put significant pressure on DOGE's price, making it essential for investors to monitor the situation closely.

From a technical analysis perspective, DOGE is attempting to break its daily downtrend, indicating a potential shift in market sentiment. Additionally, DOGE recently entered an order block, contributing to the price increase. While DOGE's current performance looks promising, investors must remain vigilant and adapt to the ever-changing crypto market, considering the actions of whales and general market developments that will determine DOGE's future price movements.