NewsBTC

2 May 2025

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Dogecoin Whales Accumulate 100 Million DOGE, Signaling Increased Confidence

Dogecoin (DOGE) is consolidating between $0.16 support and $0.20 resistance, reflecting broader crypto market strength. Recent on-chain data reveals that whales accumulated approximately 100 million DOGE in the past week, indicating rising confidence among major holders.

• DOGE is trading around $0.17–$0.18.
• A break above $0.20 could trigger a recovery rally.
• Failure to surpass this level may lead to a continuation of the downtrend, potentially pushing prices toward $0.15.
• The 200-day EMA aligns with the key resistance at $0.22, which must be reclaimed for bullish momentum.
• If DOGE falls below $0.16, it risks deeper corrections towards the $0.13–$0.10 region.

The next significant movement in DOGE's price will depend on whether bulls can drive demand above the critical resistance or if sellers take control beneath $0.16.