According to the latest report released by CoinDesk on May 18, data from CoinDesk Research shows that Dogecoin (DOGE) has established a key support level at $0.212. Above-average trading volume indicates a resurgence of buyer interest. Notably, whale accounts have accumulated over 1 billion DOGE in the past month, bringing their total holdings to 25.97 billion DOGE. The increased holdings by significant investors suggest their expectations of a market rebound.
Technical analysis shows that Dogecoin's price range over the past 24 hours has been between $0.211 and $0.220, with a support level at $0.212. Analysts emphasize that despite challenges in the macroeconomic environment, Dogecoin remains above key moving averages and may form a bullish flag pattern. If this trend is confirmed by sustained buying momentum, the price could rise to $0.35. Currently, retail futures trading remains at neutral levels, indicating potential for expansion before market conditions reach saturation.
