Recently, there has been a phenomenon of whales making large-scale purchases in the Dogecoin (DOGE) market! In just two hours, whales purchased a total of 210 million DOGE, causing the market structure to form multiple alternating 'support points'. Notably, the large whales holding 10 million to 100 million Dogecoin have significantly increased their holdings in recent weeks, closely related to concentrated buying during the price decline.
The whales of Dogecoin seem to be very active. This large-scale buying not only shows their confidence in DOGE but also injects strong momentum into the market. Typically, such purchasing behavior reduces the available supply in the market, stabilizing or increasing prices, thus attracting more traders' attention. Overall, the future of DOGE remains promising, and the dynamics of the whales reveal the deeper logic behind the market. If you are an investor, it might be worth paying attention to the movements of these whales, as they may provide new insights for your investment strategy!
This indicates that stakeholders are confident in the potential for future price increases.
DOGE's MACD crossover
In the past two hours, DOGE's price action has shown a series of gradually rising lows, strongly suggesting a bullish trend. Currently, the price has risen above $0.40, which is exciting! These rising lows are closely linked to key support levels at $0.33, $0.36, and $0.40, indicating that buying interest significantly outweighs selling pressure.
However, it is worth noting that the market has experienced a phase of "liquidity sweep", with prices briefly dropping below $0.36. This fluctuation not only tested buyer resilience but also brought uncertainty to the market.
However, the subsequent strong rebound further demonstrated investor confidence.
It seems that DOGE buyers have not backed down; they are working hard to maintain the momentum of this rebound. Overall, the current trend of DOGE is promising, and the performance in the next few hours will be crucial. Investors need to closely monitor market dynamics to seize this bullish opportunity in a timely manner!
"Demand zones" as areas of strong purchasing interest mark previous consolidation lows and may become significant support levels for DOGE to break through $0.5 before the next correction. The MACD indicator shows a bullish crossover, breaking the signal line, indicating potential for continued upward movement.
This bullish signal is consistent with the structural analysis in the price chart, showing a positive sentiment in the Dogecoin market. If this trend continues, supported by strong buyer interest and positive MACD momentum signals, the price of Dogecoin is expected to continue rising, breaking through the pre-correction high of $0.5.
