Dogecoin whales have been accumulating large amounts of DOGE, adding over $2 billion to their holdings in the past month. This bullish activity has been confirmed by on-chain data, which shows a significant increase in the balance of addresses holding between $100,000 to $10 million worth of DOGE. This accumulation by whales is seen as a positive signal for the price trajectory of DOGE. Meanwhile, the demand for DOGE appears to be higher than the supply, according to IntoTheBlock’s Order Books metrics. Crypto analyst Ali Martinez believes that DOGE has strong support at the $0.072 to $0.073 price range, and breaking above $0.76 could lead to further gains.
AI Sentiment: Positive