Dogecoin whales devour 800 million coins in 48 hours.. Smart investment or a trap for investors?
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The Dogecoin (Dogecoin), inspired by memes, has shown signs of strength after weeks of volatility and uncertainty in the market. The currency has maintained its position above critical support levels and is now heading towards a potential recovery wave. After regaining the $0.15 level, buyers (bulls) are looking to build new momentum, with the $0.17 level emerging as the next key resistance that must be broken. If the price succeeds in surpassing this barrier, it could confirm a reversal in the overall trend and reignite positive momentum in the meme coin sector.
Supporting this trend, on-chain data from the "Santiment" platform shows that Dogecoin whales have been very active, accumulating over 800 million Dogecoin in the past 48 hours. This increase in buying activity from whales adds weight to the bullish outlook, suggesting that major market players are preparing for an upward move. The renewed accumulation pace, along with improved technical indicators, has sparked optimism among traders and investors who believe that Dogecoin is ready to rise in its next phase.