Whales Accumulate 1 Billion DOGE as Golden Cross Forms
Dogecoin (DOGE) has gained over 11.2% in the past day due to whales accumulating 1 billion DOGE, valued at approximately $200 million. Current prices are around $0.24.
Key points include:
- Large holders own nearly 50% of total supply, indicating institutional confidence.
- Technical analysis suggests an 18% potential upside towards $0.26 and a breakout above $0.28 could lead to $0.35.
- A golden cross has formed for the first time since November, historically associated with significant price rallies.
- Momentum indicators show DOGE is above its 30-day SMA and has a neutral RSI of 57, allowing for further gains.
Institutional investors predict a 75% chance for a Dogecoin ETF approval, with Bloomberg analysts raising odds to 90% by the end of 2025 due to a favorable regulatory environment. This could significantly impact DOGE’s market presence.
Traders are monitoring the $0.242–$0.245 resistance level closely; a breakout could push prices toward $0.30, while support at $0.227 is crucial for maintaining bullish momentum.