The recent activity of major Dogecoin (DOGE) holders has sparked interest in the crypto market. Over 24 hours, 130 million DOGE were acquired, coinciding with the anticipation of several significant events.
Whale Accumulation
Analyst Ali Martinez reported that large Dogecoin holders accumulated 130 million DOGE during price declines, according to Santiment data. Such accumulation often precedes major price fluctuations.
Technical Indicators and Target Levels
There are signs of optimism in the form of a bullish double bottom on the Dogecoin chart. Successful retest at the $0.23 support level enhances the potential for a new rally. Projected resistance levels are at $0.31 and $0.44.
Long-term Forecast and Analysis
Some analysts, using Elliott Wave Theory, suggest that the current rally marks the beginning of Wave 3, which is typically the strongest. This could mean that DOGE's price may exceed the $3 mark in the coming months.
These factors indicate increased interest in Dogecoin from both institutional and retail investors, which may significantly affect its dynamics in the near future.
