Over 120 Million Dogecoin Scooped Up in 7 Days as Market Holds Its Breath
- Over 120 million DOGE were accumulated by whales in 7 days, signaling strong bullish interest.
- Dogecoin trades tightly between $0.16$0.18; breakout above $0.18 could trigger a rally toward $0.20.
- Key support at $0.15 remains crucial; a drop below it may lead to declines toward $0.13 or $0.12.
Dogecoin is back in the spotlight as whales are making major moves. Over the past week, these large holders have grabbed more than 120 million DOGE, according to crypto analyst Ali Martinez. That kind of massive accumulation comes in line with the meme coin being stuck in a tight trading band amid a potential breakout on the horizon.
After a sharp drop from its recent highs, the coin is now stuck in a narrow range between $0.16 and $0.18. This tight zone has become a critical battleground where neither buyers (bulls) nor sellers (bears) have taken clear control. The price action here suggests the market is at a turning point, and the next big move hinges on which direction the coin breaks out from this range.
Along with the bullish perspectives, the recent whale activity offers hope for a potential surge ahead. These large holders tend to accumulate during consolidation periods that could help Dogecoin to hold above key support zones. Whale accumulation could add ba ullish scenario from traders looking for a possible rebound.
Dogecoin Struggles to Break $0.18
Sinc Mrch 11, Dogcoin hs hovrd btwn $0.16 nd $0.18. This sidwys ction hs lft invstors in limbo, with mny witing for strong signl. Th brodr mrkt hs bn shky too, wighd down by globl mcroconomic concrns nd unprdictbl montry policy dcisions. Trdrs r brcing for turbulnc, unsur if thyr string down short corrction or th strt of full-blown downtrnd.
Th $0.15 support lvl hs provn criticl, cting s sfty nt for now. Dogcoin is currently trding right round $0.16, nd whil it hsnt collpsd, it hsnt rllid ithr. For bullish momntum to truly rturn, Dogecoin nds to crck $0.18 nd strt iming for $0.20. Thts th lvl mny s s th gtwy to strongr rcovry nd rnwd optimism.
On th flip sid, filur to dfnd $0.15 could put srious prssur on th coin. If brs tk ovr, th pric might rvisit th $0.13 or vn $0.12 zons. Tht would mrk substntil drop, spcilly for coin known for its wild swings.
Will Whales Accumulation Push DOGE to Another High?
Amid ll th fr nd mrkt ftigu, th whls r moving in. According to on-chin dt from Sntimnt, mor thn 120 million DOGE hv bn snppd up by lrg plyrs in just svn dys. Thts not smll bt. Ths kinds of movs r oftn sn s signl tht th big guns bliv somthing is brwing undr th surfc.
Mm coins lik Dogcoin r oftn th first to ris nd fll in voltil mrkts. Thir spcultiv ntur mns thy swing hrdr thn most during both good tims nd bd. But with th currnt ccumultion, thrs chnc Dogecoin could surpris to th upsidif brodr mrkt conditions ply long.
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Read more: https://www.tronweekly.com/120-million-dogecoin-scooped-up-in-7-days/
Text source: TronWeekly
