Dogecoin Whales Accumulate 1 Billion DOGE as Support Levels Strengthen
Geopolitical tensions and trade policies are impacting cryptocurrency markets, with Dogecoin (DOGE) showing resilience amidst economic uncertainty.
DOGE has maintained support above key moving averages and is forming a potential bull flag pattern targeting $0.35 if buying pressure continues.
Technical Analysis Highlights
- DOGE recorded a 4.3% volatility range ($0.211-$0.220) in the past 24 hours, establishing support around $0.212 on high volume rebounds at 13:00 and 22:00.
- A bullish recovery pattern emerged from a low at 16:00, with resistance forming at $0.217-$0.220.
- The strong volume surge at 20:00 suggests renewed buying interest, indicating potential upward momentum if DOGE holds above established support.
- In the last hour, DOGE rose from $0.215 to $0.216, with volume spikes noted at 01:17, 01:21, and 01:54-01:55.
- A strong support zone was established around $0.215, followed by a breakout at 01:16-01:17 where volume exceeded 8 million.
- The uptrend continued with higher lows, leading to a resistance test at the $0.216-$0.217 range.
- Heavy trading activity occurred in the final minutes with volumes over 7 million at 02:01-02:02, confirming buyer interest and suggesting potential for further upside.