In the last 24 hours, significant accumulation of Dogecoin (DOGE) by large holders has been observed, indicating potential price growth in the future. Data from Santiment confirms that whales have purchased over 1 billion tokens, which may be a sign of investor confidence.
Significant Accumulation Activity in DOGE Market
Over the past day, the Dogecoin market experienced considerable activity. Large holders purchased over 1 billion DOGE, as confirmed by data from Santiment, which tracks wallet activity in real-time. This accumulation occurred despite temporary market volatility.
Technical Analysis and Price Support
On the three-day chart, Dogecoin reclaimed its 50-day simple moving average, indicating a potential mid-term bullish momentum. Trader Tardigrade's analysis highlights that this technical indicator could support a positive trend. Maintenance of levels above $0.20 sustains investor confidence.
Prospects for Further DOGE Growth
The current DOGE structure is moving within an ascending broadening wedge pattern, which could lead to further growth towards $1.40 if this pattern plays out. In the short term, an inverse head and shoulders formation is developing on the hourly chart, which could accelerate bullish momentum if the price breaks above the $0.21 level.
Despite a slight decline in the last 24 hours, the current market conditions and technical signals favor the potential growth of Dogecoin. The observed whale accumulation and the support of key price levels indicate a positive direction for the token.
