DOGE Rises 7% as Whale Accumulation Exceeds 1 Billion Tokens
Meme coin DOGE experienced a 6.5% increase, rising from $0.23 to $0.24 in a 23-hour period ending August 13, due to significant whale accumulation.
Key Facts
- DOGE rallied with a peak near $0.25 before profit-taking led to a pullback, closing at $0.24.
- Whale accumulation surpassed 1 billion DOGE (~$200M), increasing large-holder ownership to nearly half of the circulating supply.
- Breakout occurred between 07:00-08:00 on 1.56B volume, confirming key support at $0.23.
- Technical indicators include a bull flag breakout and an emerging golden cross, targeting $0.30.
Technical Analysis
- Support levels: $0.23 (early), $0.24 (late-session).
- Resistance level: $0.25 (profit-taking zone).
- Volume during breakout hour: 1.56B; daily average: 565.8M.
- Higher lows indicate ongoing accumulation trend.
Trader Focus
- Confirmation of breakout above $0.25 for potential move towards $0.30.
- Strength of $0.24 support during profit-taking.
- Continuation of large-holder accumulation patterns.
- Influence of broader market sentiment on meme coin activity.