The largest Dogecoin whale shows activity, acquiring a significant number of meme coins amid low prices and potential growth.
Current Price Momentum
Currently, DOGE is trading near $0.174 with an 8% price drop in the past 24 hours. During this period, the trading volume surged by 150%, indicating increased participation from traders and investors as the price reached a crucial support level.
Dogecoin Technical Analysis and Upcoming Levels
According to expert technical analysis, DOGE remains in a bullish condition and is near the crucial $0.18 level, which has a history of strong price reversals. If the meme coin holds this $0.18 level, there is a possibility that it could rise by 36% to reach $0.24 in the coming days. Despite the price recovery, DOGE’s Relative Strength Index (RSI) remains low at 33, indicating the asset lacks the strength to surge.
$63 Million Worth of DOGE Outflow
In addition to the massive accumulation by the largest whale, data from Coinglass reveals that investors and long-term holders have moved $63 million worth of DOGE from exchanges in the past 24 hours, indicating potential accumulation. Accumulation and outflows from exchanges typically signal a potential price increase rather than a decline.
The situation analysis shows that the largest Dogecoin whale is actively acquiring meme coins, possibly leading to a significant price increase. Current changes indicate increased trading and outflows from exchanges, potentially heralding growth.
