Dogecoin Whales Accumulate 90M DOGE in 48 Hours, Anticipating a Bullish Movement

The major holders of Dogecoin, commonly referred to as “whales,” have engaged in massive accumulation of over 90 million DOGE in just 48 hours.

Major Dogecoin (DOGE) addresses, commonly known as “whales,” have engaged in a massive accumulation of over 90 million DOGE in just 48 hours, as revealed by renowned crypto analyst Ali Martinez. This activity has sparked intrigue within the crypto community.

With the meme crypto trading around $0.31 in a critical consolidation phase, this large-scale accumulation is occurring as several key players appear to be making substantial purchases.

According to on-chain data, this accumulation is part of a broader trend of strategic purchases by whales, who are capitalizing on the current consolidation period to strengthen their positions. Historically, such accumulation behaviors have preceded significant price movements.

This intense whale activity comes as Dogecoin faces resistance in breaking the $0.35 level, suggesting that major investors may be anticipating a forthcoming bullish movement.

Dogecoin’s price is currently in a delicate technical spot, hovering around the critical level of $0.31. This zone is pivotal in determining the future direction of the crypto.

For a bullish scenario to be confirmed, DOGE will need to decisively break and maintain the level of $0.37. Such a breakthrough, coupled with the recent whale accumulation, could trigger a significant upward movement.

However, caution remains essential. A break below the support of $0.30 could conversely lead to a deeper correction towards $0.20, a major psychological level that has historically served as support.

The massive accumulation by Dogecoin whales is a strong signal for the market, but the current volatility in the crypto sector calls for vigilance. The coming days will be crucial to confirm whether this accumulation indeed heralds a new bullish cycle for the most popular meme crypto in the market.