Dogecoin, a cryptocurrency attracting investor attention, has recorded growth after a recent decline. The current price is around $0.21, following a bounce from the support level.
Bounce After Decline
Dogecoin is trading around $0.21, which is up 3% in the last 24 hours. Over the past week, it has decreased by 8%. Daily trading volume is estimated at $1.2 billion. Previously, the price fell from a local high of $0.25 after a sharp increase from $0.08 to $0.21. Support was found at $0.18, where buyers stepped in. This level has now become key for price stability.
Possible Price Breakout
Analysts indicate that DOGE has bounced about 29% from the $0.18 level, showing buyers responding. If the price holds above this level, a movement towards the $0.22-$0.25 range is anticipated. A breakout above these levels would confirm a change in direction. Analyst BitGuru noted that the market is showing signs of recovery after the downturn.
Whale Accumulation
Analytical data reveals that large holders added one billion DOGE over the last day, with the purchase valued at approximately $200 million. These wallets now hold around 73 billion DOGE, nearly half of the circulating supply. Such activities may reduce the available coins for trading, which, combined with high demand, could bolster the ongoing recovery.
The situation in the Dogecoin market remains dynamic. By observing the behavior of large holders and the support level, analysts anticipate potential continued growth.
