In the last 24 hours, active accumulation of Dogecoin by large holders has drawn attention to potential price movements in the cryptocurrency market.
Accumulation of Dogecoin by Large Holders
On-chain data reveals that large holders accumulated 310 million Dogecoin (DOGE) in the past 24 hours. Currently, the coin trades at approximately $0.223, down 5.23% for the week but up 1.50% over the last 24 hours.
Technical Signals and Possible Trends
Crypto analyst Ali (@ali_charts) noted the increase in buying behavior and its timing amidst price consolidation. Despite recent price drops, the uptick in whale activity suggests potential renewed interest and positive momentum. Additionally, the TD Sequential indicator on the daily chart has flashed a buy signal for Dogecoin, indicating a possible phase of upward movement.
Future of Dogecoin Amid Market Uncertainty
Currently, Dogecoin ranks 8th among cryptocurrencies with a market capitalization exceeding $33.5 billion. Despite recent fluctuations, trading volume over the last 24 hours has exceeded $2.1 billion. The support level at $0.223 could aid further growth if sustained buying pressure—particularly from whales—continues. Meanwhile, the broader altcoin market is still navigating macroeconomic uncertainty.
The accumulation of Dogecoin by large holders and technical buy signals may indicate a potential rise for the cryptocurrency in the coming days; however, the overall environment for altcoins remains challenging.
