On-chain data shows that these whales have regained their trust in Dogecoin and are accumulating more DOGE ahead of a potential rally.
Whalers' purchases on July 10 reached 364.38 million DOGE, an increase of 868% from the previous day.
This trend continued on July 12 with the purchase of 114.71 million DOGE.
The support level of $0.10 is maintained and there is a possibility of a bullish return.
A positive price correlation with Bitcoin can also benefit Dogecoin.
Analysts predict that Dogecoin could climb higher as the bull market continues.
