【Dogecoin (DOGE) Whale Awakens】
According to data from IntoTheBlock, major players in Dogecoin are starting to take action, showing a return of market purchasing power that could push DOGE prices higher.
DOGE is currently trading around $0.1492, showing a stable consolidation pattern. The price is located near several important moving averages:
- 50-day EMA: Resistance is forming near $0.1652, a break above this level could signal the beginning of a bull run.
– 100-day EMA: Provides support at $0.1434, preventing further losses.
- 200-day EMA: at $0.1237, an important long-term support level.
The volume distribution chart shows insignificant activity. An RSI of 46 indicates that DOGE is in neutral territory, neither overbought nor oversold, and the price could move in either direction.
Data from IntoTheBlock shows that the number of large transactions has increased significantly over the past month, reaching a peak of 1,860 transactions on May 14. This indicates increased activity from large or institutional investors.
On the same day, block trading volume surged to 11.55 billion DOGE, indicating that the large movement of DOGE tokens may reflect the strategic layout of large players.
Bullish Case: If increased large trader activity leads to a sharp uptick in buying pressure, DOGE could break above the 50-day EMA at $0.1652, targeting higher resistance at $0.18 and $0.2.
Bearish Case: If major traders reduce their holdings on DOGE, it could face selling pressure, leading the price to test support at $0.1434 (100-day EMA) and $0.1237 (200-day EMA).
#鴉快訊 $DOGE @Doge Coin