Dogecoin Rises 15% Amid Whale Purchases and Exchange Outflows
Dogecoin (DOGE) has surged approximately 15%, trading around $0.25–$0.26, driven by significant whale accumulation and exchange outflows exceeding $25 million, indicating a shift to cold storage.
Whale Accumulation and Exchange Dynamics
- Over 30 million DOGE acquired by large holders in the past 24 hours.
- Decreasing sell-side inventory as exchange outflows increase.
- Spent Coins Age Band drop suggests fewer dormant coins are moving, typical of early uptrends.
Key Technical Levels
- DOGE is close to breaking through a resistance cluster at $0.26–$0.28.
- Closing above $0.2626–$0.275 could trigger a push towards $0.30, with targets at $0.32–$0.34.
- Support levels to watch: $0.24–$0.25, $0.23, and $0.22.
Potential for 20% Breakout
- DOGE recently broke a descending channel and retested its upper boundary.
- Momentum indicators suggest positive momentum, with potential for further gains if key resistance is breached.
- Continued range-trading between $0.24–$0.28 expected until a decisive move occurs.