According to crypto analyst Ali Martinez, there has been high activity from 'whales' in the Dogecoin (DOGE) network over the past 24 hours — large holders have acquired over 230 million meme tokens. This happened after the record on August 6, when crypto whales bought more than 1 billion.$DOGE in 24 hours.
Martinez also added that Dogecoin is trading in a historically strong 'buying zone', a range that has led to significant growth in previous market cycles. At the time of writing, DOGE has risen by more than 8% and has recently surpassed a key resistance level at $0.218.
Dogecoin has managed to stay above the key support zone in the range of $0.165 to $0.202, a level that experts believe is important for maintaining a bullish trend. Over the weekend, DOGE briefly dropped to $0.19, but buyers quickly intervened and prevented a more significant decline.
This recent rebound may mark the beginning of a recovery phase. The next serious test for the meme coin is the range from $0.209 to $0.22, which has previously acted as both support and resistance. A confident move above this level, especially with increasing trading volumes, could lead to a sharp rise to the $0.28–$0.29 zone, a value that hasn't been seen for several months.#DOGE #altcoins #crypto #BinanceSquareTalks #BinanceSquareFamily