Dogecoin Maintains $0.25 Support as Whales Accumulate 30M DOGE
Dogecoin experienced initial volatility but stabilized within a narrow range, with institutional support near $0.251. Whales and mid-tier investors increased their holdings, indicating accumulation and forming an ascending triangle pattern. Traders are monitoring if $0.25 can serve as a base for a potential rise to $0.27–$0.30.
Key Points
- DOGE traded within a 5.3% range, from $0.265 to $0.251, settling at around $0.254.
- Support was evident at the $0.251–$0.252 level as buying interest stabilized prices.
- Mid-tier wallets added 30M DOGE, raising their holdings to 10.77B, while the top 1% hold over 96% of the supply.
Technical Analysis
- Key support is at $0.251–$0.252, with resistance at $0.265 due to profit-taking.
- The price action suggests tight consolidation in an ascending triangle, supported by accumulation signals.
- A breakout above $0.265 could target the $0.27–$0.30 zone.
Observations for Traders
- Monitoring if $0.25 remains a structural floor during U.S. trading hours.
- Watching for further accumulation by whales beyond the 30M tokens added recently.
- Potential breakout above $0.265 to facilitate movement toward $0.27–$0.30.
- Impact of concentrated supply (96% held by top holders) on volatility around breakout points.