🔥Big investors are betting on $Dogecoin’s comeback — will $0.241 be the trigger?
#doge⚡ has been trading sideways around $0.217, struggling to break free from its consolidation phase amid volatile market conditions. While price action remains muted, on-chain indicators suggest that key investors may be laying the groundwork for a rebound.
Data from Glassnode highlights a notable shift in the Net Position Change of long-term holders (LTHs). The once-dominant red bars, which signaled selling pressure, have nearly disappeared — replaced by signs of accumulation. This transition from distribution to accumulation indicates that major holders are regaining confidence in DOGE’s long-term outlook.
At the same time, mid-term investors have added 4.9 billion DOGE (worth over $1.97 billion) to their portfolios in just two weeks. The surge in holdings last active between 3–6 months suggests that these participants are positioning themselves ahead of a potential price recovery. Their confidence could significantly reduce selling pressure and reinforce bullish momentum.
From a technical perspective, maintaining support at $0.20 remains critical. A successful breakout above $0.241 would strengthen bullish momentum and potentially drive DOGE toward $0.273, recovering losses from July. However, failure to hold above $0.20 may drag prices back toward $0.199, invalidating the current recovery setup.
Overall, growing accumulation from both long-term and mid-term holders provides a constructive backdrop for Dogecoin’s next move. If support levels hold, DOGE could be preparing for a breakout that reignites optimism across the memecoin market.
