Dogecoin (DOGE) has seen a sudden surge in whale trading recently, with big players buying frantically over the past 24 hours. Amid this wave of buying, the price of Dogecoin looks set to rebound. For whales who think this meme coin is undervalued, this is a great opportunity to pick up a bargain.
Dogecoin whale activity surges 400%
In the past 24 hours, Dogecoin's whale trading volume has gone crazy, surging by 400%!
This means that large transactions such as millions of Dogecoins worth more than $100,000 suddenly emerged like dumplings. It is worth noting that this surge was mainly the action of big players, who seized the "discount" opportunity and began to hoard Dogecoin.
Reports have also indicated that the large transaction volume of Dogecoin has skyrocketed like a rocket.
In the past day, the trading volume of Dogecoin has exceeded $60.9 billion.
This surge has clearly made high-net-worth institutional investors increasingly tempted, and they are starting to act more frequently.
Yesterday, whales bought a total of about 140 million DOGE tokens, and the activity of large holders with holdings between 1 million and 100 million has significantly increased. From the charts, especially in January, the holdings of Dogecoin whales increased rapidly as if they were being inflated, which is closely related to the price rise of meme coins.
The current transaction price of Dogecoin is $0.39, and many whales feel that this price is a great opportunity to accumulate tokens before a big breakthrough, as if they are picking up bargains.
Generally speaking, when whales take action, the price of cryptocurrencies often follows suit. After all, these big players have ample funds and can easily manipulate the market.
In the past few weeks, Dogecoin whales have been busy buying at low prices.
In the past four days, they have collectively acquired over 1.08 billion Dogecoins, and it is clear that everyone is very confident about the future of this meme coin. Additionally, Dogecoin now seems to show signs of recovery, and a price increase appears to be imminent.
DOGE may retest $0.41, and if it breaks through, it is expected to reach new highs.
If all goes well, this meme coin even has the chance to break through $0.75 and set new highs.
Currently, Dogecoin is steadily approaching the key resistance level of $0.41, and once it breaks through, it is likely to trigger a strong surge.
Dogecoin may retest the trend near the resistance level of $0.41, challenging new highs.
According to analysts' price charts, a support zone has formed around $0.3, which means that even if Dogecoin pulls back, the price is likely to find support in that area and remain stable.
