Dogecoin whale wallets have been on a buying spree, acquiring over 137 million DOGE in the past 12 hours. This indicates that major holders are stepping in again, signaling renewed interest and potential momentum for the popular meme coin amid ongoing market changes.
This wave of large purchases occurs even as the crypto market displays mixed signals. Whales continue to accumulate DOGE despite volatility, which could reduce available supply and affect short-term trading. Such moves are drawing close attention from traders and analysts tracking on-chain activity and exchange flows.
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Key Support Holds, Resistance in Sight
According to crypto analyst @gmgiray, Dogecoin is trading at $0.146 after bouncing from a key support zone between $0.105 and $0.135. The long-term downtrend from October continues, but recent buying pressure indicates short-term stabilization. This zone acts as a floor, preventing further immediate losses. Maintaining above this support is crucial for potential upward moves toward resistance levels.
The first level of resistance lies between the values of $0.160 and $0.200. These values indicate the zone in which previous pricing attempts failed. If DOGE manages to go past the first level of resistance, the next target for the price would be the zone of $0.270-$0.300. This zone indicates the values of previous highs.
Immediate resistance levels for DOGE that it might reach include $0.160, $0.200, $0.270, and $0.300. Failure to hold above $0.105 could lead to a continuation of the decline. Resistance levels could provide valuable indications of a breakout or a rejection of price action. Breaks above could propel prices to further levels.
Technical Indicators Suggest Caution
Technically, DOGE is resting below the 20-week SMA at $0.185, which remains in a bearish alignment on the chart. The price is currently testing the zone around $0.13, and if a breakdown occurs, the coin could target the levels of $0.10-$0.09. However, if the price recovers above $0.18-$0.19, the levels of $0.28 could be the next target.
The RSI is holding close to 40 levels. This emphasizes a lack of strong purchasing power. A strong decline can still follow. The MACD has maintained a position below the zero line, accompanied by a red histogram. A purchasing signal would appear once a MACD crossover occurs, crossing above the 50 levels of RSI.
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