Dogecoin Whales Accumulate 1 Billion DOGE in One Month
Dogecoin (DOGE) has surged over 50% recently, indicating a bullish momentum. Key points include:
- Currently facing a critical demand zone; bulls need to maintain support for potential further gains.
- Whales accumulated significant amounts of DOGE in the past month, suggesting increased confidence among large holders.
- Despite gains, DOGE remains over 50% below its December 2024 high.
- The overall market is uncertain due to macroeconomic concerns, but maintaining support could lead to a broader rally.
- Whale activity indicates potential for future upward movement, reversing previous outflow trends.
Price analysis shows DOGE consolidating between $0.22 and $0.24 after a rise from below $0.17 to nearly $0.26. Key details include:
- Current support lies around $0.22, with upward sloping 200 EMA ($0.195) and 200 SMA ($0.183) confirming trend support.
- A break above $0.24 could lead to retesting the $0.26 high, potentially reaching $0.28.
- If DOGE falls below $0.22, the next support is at the 200 EMA; a pullback to $0.20-$0.195 would still be considered healthy within the uptrend.
- Closing below the 200 SMA would weaken the bullish outlook.
