Crypto Whale Takes 210 Million Doge Coins!!!!
Dogecoin (DOGE) is back in the public spotlight after the rampant actions of large investors or commonly called whales. The latest data reveals that large owners with ownership of 10 million to 100 million DOGE have experienced a significant increase in accumulation in recent weeks.
It was recorded that around 210 million DOGE or the equivalent of more than 84 million US dollars or equivalent to Rp1.34 trillion have been purchased by a number of large investors. This activity reduces the availability of DOGE on the open market, often providing a stabilizing effect or even driving up the coin's price.
Technically, AMB Crypto analysis assesses that the current DOGE price chart is in a two-hour bullish trend range. The pattern of increasing lows indicates consistent purchasing power.
The price of DOGE returned to levels above Rp6,400, after previously passing important points at Rp5,280 and Rp5,760. This pattern underlines that buying pressure has succeeded in overcoming selling pressure in the market.
However, DOGE entered a phase called Liquidity Sweep, where the price fell to IDR 5,760 before rising again. This phase tests the resilience of buyers in the market. The Demand Zone, which was previously a low consolidation area, now acts as a strong foundation to push the DOGE price towards 0.5 US dollars or IDR 8,000 before being corrected.
This optimism is also reinforced by the Moving Average Convergence (MACD) indicator. There is a bullish line intersection, where the MACD line exceeds the signal line, indicating the potential for continued momentum. If this trend continues, DOGE is likely to break through IDR 8,000, which is the highest level before the last correction.
However, analysts continue to warn that a sluggish market can pose its own risks to DOGE's performance. However, increasing whale activity and resistance signals from technical analysis are strong reasons for Dogecoin's prospects in the near future.
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