Dogecoin (DOGE) is seeing renewed bullish momentum as crypto whales accumulate huge quantities of the meme coin. In accordance with analyst Ali, over 600 million DOGE have been scooped up by giant holders in simply the previous 48 hours, signaling rising confidence within the asset’s potential upside. This accumulation coincides with Bitcoin’s current breakout above $104,000, marking its highest degree since January and driving broader market optimism.
On the time of writing, Dogecoin has gained 2.26% within the final 24 hours, buying and selling at $0.2334. Weekly, the cryptocurrency is up over 35%, outperforming most top-10 digital property besides Ethereum, which has surged 38%. Dogecoin briefly hit $0.259 early Sunday—its highest value since February 21—after rallying from a current low of $0.164 on Could 6.
Open curiosity in DOGE futures has additionally climbed practically 10% to $2.85 billion prior to now 24 hours, reaching ranges not seen since mid-February, per CoinGlass knowledge. Rising open curiosity alongside value progress usually signifies sturdy investor conviction and rising speculative curiosity.
At present, Dogecoin is dealing with resistance close to $0.259, near the 200-day easy transferring common (SMA) at $0.265. A breakout above this degree might gasoline additional good points, whereas assist is seen on the 50-day SMA. If momentum stalls, DOGE might consolidate between these two SMAs earlier than its subsequent important transfer.
Whale accumulation, elevated buying and selling exercise, and constructive technical indicators recommend DOGE could also be making ready for a continued rally—particularly if Bitcoin maintains its bullish development. Traders are watching intently as Dogecoin makes an attempt to reclaim greater floor within the ongoing crypto market surge.
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