Dogecoin Whales Accumulate 460 Million DOGE Amid Price Decline
Dogecoin (DOGE) has experienced selling pressure since reaching $0.43 on January 18, resulting in a price decline. It found support at the $0.31 level, preventing further losses and raising investor optimism for a potential rally.
Key points include:
- Whales accumulated 460 million DOGE during the recent dip, indicating confidence in its long-term potential.
- Analysts suggest current consolidation could lead to an upward move.
- Dogecoin is trading at $0.33 after a recovery from a 9% dip to $0.30.
- To confirm a bullish trend, DOGE must breach the $0.41 resistance level.
- Consolidation may occur as bulls gather strength before attempting a breakout.
The performance over the next few weeks will be crucial for Dogecoin's market position and potential gains.
