【Dogecoin whale buys meme coin for 214.5 million USD】
Dogecoin (DOGE) recently approached the key resistance level of 0.42 USD, with a whale accumulating 214.5 million USD worth of DOGE last week, pushing the price close to an all-time high. The large-scale buying behavior indicates potential bullish momentum, attracting widespread attention in the market.
Currently, 0.42 USD is an important psychological barrier for DOGE. Analysts believe that the whale's entry significantly increases the likelihood of a breakout. Once successfully breached, DOGE is expected to challenge the historical peak of 0.73 USD, and even push towards a new target of 0.83 USD.
On-chain data shows that the daily active addresses for Dogecoin have surpassed 1.33 million, setting a new milestone. This reflects the growth in network demand, and the divergence indicator between price and daily active addresses further strengthens the buy signal, indicating coordinated growth between price increases and user participation.
From a technical perspective, DOGE is currently holding steady above the support level of 0.36 USD. To maintain upward momentum, it needs to break through 0.45 USD and convert it into a new support area, laying the foundation for further price increases.