#Dogecoin Whales Accumulate 200 Billion Tokens Amid Volatility: Is a $0.30 Breakout Imminent?
Dogecoin Whales Scoop Up 200 Billion Tokens Amid Market Volatility
Over the past week, Dogecoin ($DOGE ) whales have been actively accumulating tokens, purchasing more than 200 billion DOGE, signaling robust confidence in the memecoin despite the recent price fluctuations sparked by the U.S. Producer Price Index (PPI) report.
The volatility in Dogecoin has persisted for over a week, with the price oscillating between $0.22 and $0.247, reflecting a period of consolidation after weeks of mixed market sentiment. At press time, Dogecoin was trading at $0.23, down approximately 6% over the last 24 hours, yet trading activity remains high, with a 20% surge in daily volume, highlighting continued investor engagement.
Whales Lead the Charge: 200 Billion DOGE Accumulated
Market watchers have noted that despite sideways price movements, whales have been steadily accumulating DOGE, suggesting strong long-term confidence in the asset. According to a recent report shared on X (formerly Twitter) by a prominent crypto analyst, the accumulation of over 200 billion tokens could be an early signal of a bullish breakout.
This substantial whale activity often precedes upward price action, as large holders tend to influence market sentiment and create price support. Analysts suggest that such large-scale purchases are a vote of confidence in Dogecoin’s fundamentals and potential future gains, especially during periods of consolidation.
Technical Analysis: Dogecoin Price Prediction Remains Bullish
Technical analysts are closely monitoring Dogecoin’s price levels, which have been confined between $0.22 and $0.247 for more than seven days. According to KriptoNovini.bg’s technical insights, these levels represent key support and resistance boundaries:
Support: $0.22
Resistance: $0.247
On the daily chart, a break above $0.247 could signal a strong upward trend, potentially triggering a 21% rally toward the $0.30 mark.
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