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Surge in Whale activity
Dogecoin (DOGE) has recently experienced a surge in activity from large investors, known as whales, who bought over 2.1 billion DOGE tokens last week. This is the highest accumulation since January 2024, showing strong bullish sentiment. Analysts believe that such buying by whales is a good indicator for the price of Dogecoin and could lead to a price rally, similar to previous trends.
DOGEUSD showed a major jump of more than 115% in the past five days.It hits a high of $0.30294 and is currently trading around $0.16282.
In the 4-hour chart, the pair is holding above short-term (34 and 55-day EMA) and long-term 200 EMA ($65.80).
The bearish invalidation can happen if the pair closes above $0.070. On the lower side, the near-term support is $0.2450. Any close below targets $0.180/$0.140.
The immediate resistance stands at around $0.30. Any breach above confirms a minor pullback. A jump to $0.380/$0.490 is possible. A surge past $0.50 will take DOGE to $0.75.
It is good to buy on dips around $0.230 with SL around $0.14 for TP of $0.490.
