Institutional Interest in Dogecoin Surges
Dogecoin ($DOGE ) has captured the attention of large holders, with a significant acquisition of 310 million tokens occurring within a 24-hour period. This move, valued at over $73 million, points to renewed interest from institutional or whale investors in the digital asset. The majority of these tokens have found their way into wallets already holding between 100 million and 1 billion DOGE, indicating a strategic accumulation pattern that could signal a new growth phase for #DOGE .
Analyzing Whale Activity and Market Trends
On-chain analytics from #Santiment and #coinglass have revealed a notable increase in whale activity, as large holders have significantly increased their stakes during a recent price pullback. This surge in buying interest has pushed the DOGE price above key technical levels, reaching $0.223 and demonstrating resilience against selling pressure. Historical data suggests that wedge patterns similar to the current one often precede substantial rallies, with indicators such as the Golden Cross reinforcing a bullish outlook. The Relative Strength Index (RSI) remains neutral, hinting at further potential for gains.
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