$DOGE 600 Million DOGE Scooped Up in 48 Hours – What’s Driving the Surge?
Dogecoin (DOGE), the popular dog-themed cryptocurrency, is making headlines again as crypto whales have snapped up 600 million DOGE within just 48 hours, according to analyst Ali. This massive accumulation aligns with a broader rally in the crypto market, where Bitcoin recently soared past $104,000 for the first time since January.
Dogecoin has been riding this bullish wave, gaining 2.26% in the past 24 hours and currently trading at $0.2334. Although it has slightly pulled back, DOGE is still up an impressive 35% over the past week—second only to Ethereum, which posted a 38% gain among the top 10 cryptos by market cap.
On Sunday, Dogecoin reached $0.259, its highest price since February 21, rebounding sharply from a low of $0.164 on May 6. This rally comes as open interest in DOGE futures climbs 9.84% to $2.85 billion—the highest since mid-February, signaling growing trader interest.
Currently, DOGE faces resistance around its intraday high of $0.259 and the 200-day simple moving average (SMA) at $0.265. A clean break above this level could fuel further upside. If momentum fades, support lies near the 50-day SMA, with a potential consolidation between these levels before the next big move.
Would you like a quick chart summary of Dogecoin’s price and technical levels?
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