Dogecoin Whales has executed a substantial transaction in the last two days, buying 110 million Doge while the price of the meme medal decreased.
This systematic accumulation has aroused the interest of experts and traders, triggering discussions concerning a possible price reversal.
DOGE currently negotiating at $ 0.25, many speculate if it may indicate an upcoming upward escape.
The accumulation of whales means insurance
A significant number of investors, often called “whales”, play a crucial role in the formatting of market models. The chain data indicates that these whales have accumulated DOGE worth around 27.5 million dollars in the last 48 hours.
Historical market cycles indicate that such purchasing behavior for significant holders often precede the increase in price trends.
The increase in the accumulation of whales alignments with a broader trend in the increase in whale activity in the cryptocurrency sector. Analysts suggest that continuous purchase pressure can create substantial support for DOGE, which reduces the probability of a significant fall.
Essential support levels maintain stability
Technical analysts noted that the most recent fall in Dogecoin encountered resistance close to the level of $ 0.22. Historically, this level has been a solid demand zone that attracts investors even in the decline of Doge. If the price maintains above this level of crucial support, it could stimulate a possible recovery.
Conversely, resistance levels at $ 0.27 and $ 0.30 remain essential for the future Doge’s rise movement. A violation above these levels can lead to an prolonged increase, while a failure to achieve it could lead to greater consolidation.Market feeling and price projection
Despite the recent drop, the majority of feelings about Dogecoin are still positive. The commercial volume and the conversation on social networks around the medal of the same suggest that individual traders keep its movements closely, with many estimates of potential break.
In addition, analysts keeping an eye on Doge price movements believe that the symmetrical triangular model on the one hour graph predicted an imminent breakthrough. In the coming days, DOGE can face its closest levels of resistance if the bullish momentum is built.
At the same time, despite the current concerns concerning price volatility, historical trends indicate that substantial acquisitions by large investors generally lead to an appreciation of prices.
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