The recent net drop made the feeling of the market more sensitive, some entering the opportunity while others have unloaded their assets. In the middle of this, the whales accumulated Dogecoin (Doge), the popular piece of memes.
Whales buy 750 million Doge
Recently, a prominent crypto expert shared an article on X, stressing that during a recent drop, Crypto Whals bought 750 million coins, showing confidence in the memes room. This substantial accumulation by whales indicates a strong upward perspective for investors.
Despite this recent accumulation, DOGE has not experienced any major price change. Currently, the room even is negotiated nearly $ 0.253, having dropped more than 5.50% in the last 24 hours, suggesting a potential buying opportunity.
However, during the same period, its commercial volume decreased by 30%, indicating fear among traders and investors, leading them to stay away from participation.
25 million dollars for a DOGE outing
Despite a lower participation, the chain analysis company Rinsing shows that long -term holders and investors continue to add memes parts. The influx / debit data reveal that the exchanges have experienced more than $ 25 million Cornersindicating potential accumulation.
This outing suggests that long -term holders have moved assets of exchanges, which could create a purchase pressure and trigger another rally.
Dogecoin price action (DOGE) and key levels
According to an expert technical analysis, DOGE seems to be lower and in a downward trend, because it is negotiated below the exponential mobile average (EMA) in a daily time.
Based on the action of recent prices and historical momentum, there is a high possibility that it can face an additional price fall to reach its next support in $ 0.22 in the coming days .
On the basis of Coringlass data, if the DOGE price falls below $ 0.246, nearly $ 8 million in long positions will be liquidated, because the bulls are over-deposed at this level.