Dogecoin whales are hoarding coins like crazy, is the $1 target coming?
Recently, Dogecoin whales have been very active, with trading volume reaching a new monthly high.
On August 13th, when the price of Dogecoin rose to around $0.25, the number of transactions exceeding $1 million suddenly broke 100. These whales now hold a total of 2 billion Dogecoins, and their previous large-scale purchases have driven the price up.
However, the market has not been good in the past few days, with Dogecoin following the broader market, dropping 9.5%, and the current price is around $0.2285. The key resistance level is around $0.25, which has not been broken in recent attempts.
Analysts have differing opinions; some believe Dogecoin could rise to $0.7 or even higher, while others think it may pull back to around $0.21 in the short term, with key support at $0.18. If it falls below this level, the upward trend may come to an end.
Overall, the whales are still active, indicating that they still have interest in Dogecoin, but the market is too volatile, making short-term trends uncertain.
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