🔥 Dogecoin enters major accumulation zone, is it time to return?

MVRV ratio is a buy signal🔥

In addition to new investors, existing holders of Dogecoin are also expected to use this opportunity to accumulate more meme coins in the hope of achieving position balance. According to on-chain data, the supply of tokens held by long-term holders (more than one year) has increased significantly

Buying in Dogecoin during the downturn may bring significant buying pressure to the cryptocurrency token, which may trigger a price recovery in the market downtrend

In addition, on-chain data shows that Dogecoin whales are also accumulating during this period. Specifically, 150,000,000 DOGE was transferred from the crypto trading platform Robinhood to an unknown wallet, while another 76,316,694 DOGE was transferred from Robinhood to this wallet

These whales have a huge influence on the market, and their purchases may have a positive impact on the price of DOGE. At the same time, it is worth noting that a price recovery for DOGE seems imminent, given that historically recoveries always occur within this MVRV range

🔺 What the DOGE chart is saying

Dogecoin is currently in a "major support zone", and if the crypto market is indeed in a "real bull market", then this meme coin should not lose this support zone

$DOGE#DOGE#Dogecoin

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