The Dogecoin market is witnessing a surge in whale activity as they accumulate tokens despite declining price levels. Recent data indicates this trend.
Whale Activity Intensification
In the last 24 hours, significant accumulation of Dogecoin by whales has occurred against the backdrop of price declines. According to recent data from @ali_charts, whales have purchased 310 million DOGE. Although the coin's price dropped by 5.11% last week, major holders increased their acquisitions.
Market Behavior and Investor Sentiment
While whale wallets are expanding, retail sentiment appears increasingly cautious. The current short-term downtrend reflects reduced buying pressure among smaller participants. As of this writing, DOGE is priced at $0.2224 with a 2.43% gain over the past 24 hours, but down 4.42% week-on-week, indicating a common pattern where retail exits coincide with institutional entries.
Technical Signals and Possible Recovery
Chart analysis suggests the formation of accumulation zones, indicating potential consolidation prior to a breakout. The current market environment for DOGE hints at possible price recovery, particularly if whales continue their accumulation.
The accumulation trend among major investors, coupled with current market dynamics, suggests that DOGE's price may change soon. Observers anticipate strong players could influence a correction and potential asset recovery.
