Whales Accumulate 525 Million Dogecoin in 96 Hours
- Whale Accumulation Surge: In just 96 hours, large holders purchased approximately 525 million Dogecoin, increasing their total balance to 18.93 billion tokens, which is valued at nearly $1.99 billion, indicating strong interest in the asset.
- Positive Market Reaction: Dogecoin traded around $0.105 on May 22, experiencing a slight 0.07% decline over 24 hours; however, analysts interpret the chart pattern as a potential setup for further gains, targeting a price of $0.15.
- Rising ETF Demand: During May, Dogecoin-related exchange-traded funds (ETFs) attracted $2.15 million in inflows, marking the strongest monthly intake since February, with net assets reaching $14.85 million, reflecting genuine market interest in Dogecoin.
- Musk's Influence Persists: With SpaceX filing for an IPO, market attention on Dogecoin has intensified, and if the June listing garners significant interest, the token is expected to react positively; technical charts indicate a need to break the $0.112 resistance to confirm a potential 40% upside.
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Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE). As of , Dogecoin (DOGE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Dogecoin (DOGE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0862 | 0.0913 | 0.0965 | 0.102 | 0.107 | 0.112 | 0.117 |
| Fibonacci | 0.0913 | 0.0953 | 0.0977 | 0.102 | 0.106 | 0.108 | 0.112 |
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