Whales Accumulate 100 Million Dogecoin Amid Market Volatility
Dogecoin is experiencing increased volatility as it struggles to surpass the $0.25 mark amid global market uncertainties. Key points include:
- Dogecoin has dropped over 39% since February began, currently trading at $0.24.
- Whales have accumulated an additional 100 million DOGE in the last 24 hours, indicating rising demand despite price challenges.
- The price must reclaim resistance levels between $0.25 and $0.29 for potential bullish momentum.
- The key support level to watch is around $0.228, corresponding with the 200-day moving average.
- Failure to maintain this support could lead to declines towards $0.20.
- A breakthrough above $0.26 may signal a reversal, creating opportunities for a retest of the $0.29 supply zone.
Market sentiment remains cautious, with investors closely monitoring whale activities and key price levels to gauge future movements for Dogecoin.
