DOGE rise 10.3%: Will this whale's accumulation of 200 million $DOGE push the price up to $0.25?

In recent weeks, Dogecoin has seen significant accumulation from large investors. Over the past two weeks, these large investors have made an acquisition of more than 200 million DOGE, reflecting a rise in confidence despite price volatility.

Dogecoin demonstrates impressive market strength with a significant increase of 10.3% in the last 24 hours while its Bitcoin value has risen to 0.0002323 BTC, corresponding to a growth of 9.2%. This surge highlights the growing demand and renewed interest from investors.

Dogecoin has maintained a price range between $0.185 and $0.2046 over the past 24 hours, creating a wide trading zone. The wide price volatility indicates that investors are buying at lower levels but facing resistance near higher values. The market shows strong buying interest as larger holders continue to accumulate Dogecoin, pushing the price higher. Due to the accumulation of whales reaching over 200 million DOGE, many investors see growth potential for Dogecoin. Large investors tend to accumulate their assets during periods they believe the price will increase further or the fundamental strength will become clear. The significant increase in acquisitions is particularly prominent against the backdrop of market volatility, indicating that institutions along with wealthy investors are seeking upcoming profit opportunities. Key Support and Resistance Levels The current Dogecoin price chart shows important support and resistance levels that will impact its movement. The price area of $0.185 acts as a crucial support level to protect Dogecoin from continuous downward movements. The recent daily high of Dogecoin is $0.2046, acting as a major resistance barrier. Successfully pushing the price above this level could trigger further gains that may bring Dogecoin into the resistance range of $0.22 to $0.25. The market is likely to consolidate at $0.19 as the upward momentum loses strength and shows signs of hesitation. The Capital Movement of Dogecoin: Is a Reversal Trend Approaching? From May to September, Dogecoin has shown minimal price changes according to DOGE Spot Inflow/Outflow data. During this period, the outflow of assets from the Dogecoin economy remained predominantly negative due to the lack of a price surge. The period from December to February shows a strong prevalence of negative net cash flow causing the price to drop to $0.20. During this time, investors aggressively liquidated their positions, creating a downward movement as market participants exhibited pessimistic behavior.