Whales accumulated 750 million Dogecoin (DOGE) during a recent drop in prices, analysts predicting a potential increase.
The drop in Dogecoin prices continues, marking three consecutive days in the red. The main room even fell by more than 4% in last week, most other assets in the top ten by market capitalization faced with similar declines. Despite this slowdown, market data suggest that whales accumulate Dogecoin in large quantities.
Meanwhile, recent chain data reveals that large holders have benefited from the drop in Dogecoin prices. An expert observes that the whales holding between 10,000,000 and 100,000,000 DOGE acquired 750 million DOGE during the decline.
THE data suggests a significant accumulation event, reflecting strong confidence in the assets despite the overall slowdown in the market.
More accumulations of DAGE DOGE
Meanwhile, intotheblock analysis also supports the accumulation trend. In the last seven days, Dogecoin’s Entrance metrics increased by 5.33%, indicating a coherent short -term purchase activity.
The 30 -day change amounts to 323.86%, demonstrating a sharp increase in purchase pressure. More than 90 days, entries jumped by 3,722.46%, which has shown a significant increase in the interests of whales in the past three months.
More promising signs for the return of Dogecoin
Although the Dogecoin price remains in a corrective phase, other technical analysts have observed key models that could report potential movements. A veteran trader, Coinvo, has identified A corrective ABC wave motif on the DOGE / USDT daily graphic.
According to the analyst, “Everything points to a higher doge movement.” In particular, tHe observed that the model suggests that the market could approach the end of its current correction phase, potentially leading to a movement of reverse and bull movement.
The analyst plans a daring goal of $ 440.
In particular, another market analyst examined the movements of historic prices to determine a possible peak for the cycle during Dogecoin. Observations of previous price cycles indicate This Dogecoin followed a recurring diagram, the top prices appearing approximately every 1,442 days.
Historical data show that Dogecoin jumped 21,821% in its first cycle recorded, reaching a peak in January 2018. The second cycle, which ended in May 2021, experienced an increase of 54,890% of its low cycle .
Its analysis suggests a price objective greater than $ 10, but the graphic data involves an even more ambitious projection, the Doge estimate could increase to $ 440.
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