Whale 310 million DOGE, $0.26 instantly becomes 'diamond bottom'! After a strong surge last week, Dogecoin (DOGE) has seen a significant pullback, with a decline of about 6.41% over the past eight days. However, this adjustment may provide investors with a good opportunity to buy more DOGE at a low price, perhaps the last chance to buy at such a favorable price.
In the past 48 hours, whales have consumed over 310 million DOGE, indicating that after a brief value retreat, large-scale accumulation is taking place, with an initial accumulation exceeding $73 million mainly coming from whale wallets holding 100 million to 1 billion DOGE.
Data shows that since July 17, the total holdings of whales have increased to 25.42 billion DOGE. Historically, this kind of accumulation after a pullback often leads to a rebound, and this time is no exception.
DOGE has broken through a wedge pattern that has lasted for several months and a rising channel of 146 days, which is brewing to trigger the next wave of significant gains. Dogecoin is set to welcome its second peak after the pullback.
Currently, DOGE is testing the neckline of a double bottom pattern, which is a key support level and may be the ideal entry point before an upward breakout, providing a challenging entry point for the next round of increases!
The double bottom pattern has been forming since DOGE fell below $0.25 in February, and since then the price has fluctuated between $0.1290 and $0.1430, breaking through the neckline last week. If the double bottom pattern is confirmed, regaining the $0.26 support level could push the price up to $0.46, a 115% increase.
Dogecoin remains a strong competitor in this cycle, predicting at least a 3-5 times increase in the remaining term, possibly even higher. Although all altcoins have potential for growth, DOGE's opportunities are becoming increasingly prominent.