- Crypto whales bought 470M DOGE in 48 hours, fueling a 4.5% price rise to $0.334 with trading volume up 15%.
- DOGE’s $0.31 support remains crucial, with potential for a 15% rally to $0.40 if it breaches $0.34 resistance.
- DOGE’s RSI nears oversold, signaling possible recovery as investor interest and market sentiment strengthen.
Over the past 48 hours, crypto whales have acquired 470 million DOGE, fueling significant market activity for the meme coin. According to data, the purchases occurred within the $0.314 to $0.355 price range.
Further, this accumulation coincides with a 4.5% rise in DOGE’s price, which now trades near $0.334. During the same period, trading volume increased by 15%, reflecting growing investor interest and engagement.
Key Support at $0.31 Signals Positive Momentum
Additionally, DOGE has consistently found support at $0.31, a level that has historically triggered upward price movements. Analysts believe the recent whale activity could signal a similar trend. Experts suggest that the price may rally further if DOGE maintains support above $0.31 and closes above $0.345.
Currently, the token faces resistance at $0.34, which has slowed its upward momentum. However, technical indicators show optimism. DOGE’s Relative Strength Index (RSI) is nearing the oversold territory, signaling a potential recovery.
Potential for a 15% Upside Movement
In addition, technical analysis indicates that if DOGE surpasses the $0.34 resistance, it could experience a rally of up to 15%. This would bring its price closer to the $0.40 mark in the near term. The market’s current sentiment remains bullish, supported by recent price action and whale activity.
Moreover, the broader crypto market has shown signs of improvement, contributing to DOGE’s performance. As sentiment strengthens, traders and investors are closely monitoring the meme coin’s behavior near its resistance levels.
Trading Volume Reflects Growing Interest
Consequently, the surge in DOGE’s trading volume reflects increased activity among traders and investors. A 15% rise in volume over 24 hours suggests heightened interest in the token. This aligns with a general improvement in sentiment across the cryptocurrency market, despite ongoing corrections.
Therefore, DOGE’s recent price action and whale accumulation highlight its potential for a strong rally. Support at $0.31 remains a key factor for upside momentum, while resistance at $0.34 will determine the next move. As market conditions evolve, DOGE could experience further price gains, driven by investor sentiment and technical indicators.
