DOGE Surges 3.55% as Whale Accumulation and Active Addresses Drive Bullish Momentum

Dogecoin (DOGEUSDT) experienced moderate price growth over the past 24 hours, closing at $0.2229 with a 3.55% increase and maintaining a strong position among leading cryptocurrencies by market capitalization. Trading volume reached approximately $1.4 billion, with the price ranging between $0.2115 and $0.2249, and the circulating supply standing at 149.31 billion DOGE.

The recent price appreciation is attributed to heightened on-chain activity, including a significant increase in active addresses and robust whale accumulation, which has reinforced key support levels. Technical indicators suggest building bullish momentum, with analysts identifying $0.228 as a pivotal resistance level for potential further gains. Market sentiment has been influenced by increased trader engagement and an inverse correlation between S&P 500 declines and Bitcoin stability, which has drawn additional interest to meme coins like Dogecoin. Despite a recent decrease in open interest and trading volume, and concentrated long liquidations, the asset remains range-bound with notable buy orders at support and resistance levels, indicating ongoing market participation and the potential for continued volatility.