Dogecoin whales are increasing their holdings rapidly. In the past month, their Dogecoin holdings have risen from 23.55 billion to 24.46 billion. Over the last 3 days alone, around 530 million Dogecoins have been added to their holdings. As prices drop, especially since mid-February, whale-held Dogecoin volumes have increased, indicating buying at support levels. The lowest recorded price in late February was about $0.208, coinciding with the highest accumulation level. This suggests that whales have used price drops to buy more. If this trend continues, it could create stronger support, but if whales start selling, a price decrease is possible. Dogecoin has recently entered a range that was a historical accumulation zone for buy orders, ranging from $0.20 to $0.23 and currently sits at $0.2047 with a daily increase of 9.36%. Executing buy orders in this range can increase buying pressure and drive prices upwards. If Dogecoin can stabilize above this range, there is a possibility of reaching $0.30 and even previous highs around $0.50. Otherwise, the price may drop to the next support levels between $0.09 to $0.11. Additionally, the Relative Strength Index (RSI) is showing signs of bullish divergence, which could signal a trend reversal. However, if this bullish trend doesn’t materialize, testing lower support levels remains possible. You can monitor the prices of all tokens and cryptocurrencies in real-time on the digital currency price page.
