"Dogecoin (DOGE), Last Month's Whale Buying Surge... Short-term Rebound Expectations↑"

Minseung Kang

Summary

It was reported that Dogecoin's whale investors purchased approximately 220 million DOGE last month, raising expectations for a short-term rebound.
This purchase amounts to $36.08 million, and it appears that large investors concentrated on bargain buying during the price adjustment phase.
It was reported that if Dogecoin breaks through the $0.22 to $0.25 resistance range, there is potential for an upward trend, but it could be influenced by external factors such as Bitcoin price trends.

It has been revealed that 'big hand' whale investors made significant purchases of Dogecoin (DOGE) last month. There is growing anticipation for a short-term rebound in the market.

On the 4th, the cryptocurrency specialist media CoinJournal reported, "Dogecoin whale wallets purchased an additional approximately 220 million DOGE last month. Market confidence in Dogecoin is rising again." This amounts to $36.08 million (approximately 51.8 billion KRW). It is observed that large investors concentrated on bargain buying during the recent price adjustment phase.

As of 4 PM today, DOGE is trading at $0.164 on the Binance exchange, down 0.29% from the previous day. Its market capitalization is about $24.4 billion, ranking 8th in terms of cryptocurrency market cap.

The media added, "Dogecoin is forming a major resistance line in the $0.22 to $0.25 range. If it breaks through this range, there could be room for an upward trend," but also noted, "The sustainability of Dogecoin's rise could be influenced by Bitcoin price trends, macroeconomic variables, and regulatory issues."

DOGE