The post Dogecoin Whales Back In Action – Metrics Reveal $108 Million DOGE Accumulation appeared on BitcoinEthereumNews.com.

Dogecoin is testing a crucial level after a 22% decline, bringing the price down to the $0.10 mark. This key area has become a turning point for the popular meme coin, potentially sparking a new rally or leading to further correction.  Analysts and investors remain optimistic despite the recent dip, closely watching the price action for any signs of a breakout. Some experts have shared metrics supporting this bullish outlook, citing key whale activity as a positive indicator. Notably, data from Santiment, shared by prominent crypto analyst Ali, highlights significant whale purchases during the latest Dogecoin dip. This accumulation by large holders is often seen as a bullish signal, suggesting confidence in a future price rebound.  As Dogecoin hovers near this crucial support, the next few days will be pivotal for DOGE and the broader crypto market. Big Players Buying Dogecoin  Dogecoin’s sentiment has shifted dramatically in just a few days, going from extremely bullish to anxious and possibly even bearish. The price surged an impressive 33% since mid-September, driven by renewed interest and positive momentum. However, since last week, Dogecoin has retraced to the same levels it was trading at before the rally, creating concern among analysts and investors. Despite the downturn, there’s still hope for a bullish reversal, especially for those closely following on-chain metrics. Key data from Santiment indicates that large holders, or whales, are showing increased activity, a signal that has historically preceded market rebounds. Crypto analyst Ali recently shared a chart on X revealing that Dogecoin whales purchased over 1 billion DOGE in the past 24 hours, totaling roughly $108.7 million. This significant accumulation during high volatility suggests that “smart money” is positioning for an upcoming price surge. Dogecoin whale activity reveals 1 Billion DOGE accumulation in the 24-hour chart. | Source: Ali on X…

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Filed under: News - @ October 5, 2024 3:07 am