Whale Accumulation and Stock-to-Flow Increase May Signal Potential Price Rally for Dogecoin
The post Whale Accumulation and Stock-to-Flow Increase May Signal Potential Price Rally for Dogecoin appeared on BitcoinEthereumNews.com.
Recent trends in Dogecoin’s market indicate the potential for an imminent price rally, fueled by significant whale accumulation and a rising stock-to-flow ratio. In the last two weeks, investors classified as “whales” have accumulated over 200 million DOGE, showcasing a renewed confidence in the cryptocurrency. According to COINOTAG, this accumulation reflects a burgeoning belief in Dogecoin’s capability for future price appreciation, despite its historical volatility. This article analyzes the recent developments surrounding Dogecoin, focusing on whale activities, stock-to-flow ratios, and market engagement, suggesting potential price movements. Dogecoin: Breaking through key levels A closer look at Dogecoin’s recent price action reveals some interesting developments. After struggling in a descending wedge channel, Dogecoin broke out successfully and bounced from a key support level of $0.24243. With the price now hovering around $0.19311, it faces immediate resistance at $0.24243, which will be crucial for further upward movement. The price action demonstrates a potential turning point, as breaking through this resistance could lead to a more sustained rally. However, the success of this move will depend on whether DOGE can maintain its upward momentum and not fall back into the descending wedge channel. Source: TradingView DOGE daily active addresses and transaction count: Still low Despite the positive whale activity, Dogecoin’s network remains relatively inactive in terms of daily active addresses and transaction volume. At press time, Dogecoin has only 31,212 active addresses, with a low transaction count of 8,898. These figures suggest that while large investors are actively accumulating DOGE, the broader market participation remains limited. Therefore, for Dogecoin to experience a more significant rally, it will need an increase in user adoption and transaction activity, which can help fuel sustained price growth. Without these factors, any gains may be short-lived, driven primarily by whale influence. Source: Santiment Sharp increase and implications The stock-to-flow…
Filed under: News - @ March 26, 2025 9:19 pm