Dogecoin Whales Accumulate 800 Million DOGE Worth $128 Million
Dogecoin (DOGE) is experiencing a wave of whale accumulation, with over 800 million DOGE purchased recently, valued at approximately $128 million. Currently, DOGE trades around $0.16, holding a market cap of $23.7 billion.
- Whales have bought significant amounts in the last 48 hours.
- Analysts predict an imminent price breakout based on technical indicators.
- The DOGE open interest-weighted funding rate has started to rise, signaling optimism among leveraged traders.
- Open interest remains mostly flat since early February, indicating trader hesitance.
DOGE Price Analysis
Current MACD trends are bearish but may shift if volume supports a crossover. The RSI sits at 45, suggesting mild bearish pressure without entering oversold territory.
- Bollinger Bands widening indicate increased volatility.
- Price near the mid-band at $0.16 could lead to a short-term rally towards $0.18925.
- A breakout above this level might set new local highs; failure to hold $0.148 could trigger further declines.
Chartist Javon Marks forecasts a potential increase of 200–330%, potentially pushing DOGE beyond its previous all-time high of $0.73.