Dogecoin Whales Acquire 200 Million Coins Amid Price Dip
Between November 20 and 23, Dogecoin (DOGE) whales decided to add to their stash by acquiring an impressive 200 million coins. This move of accumulating more DOGE, amounting to about $84 million, comes right after a period of decreasing their holdings. This decision suggests that there might be a decrease in selling pressure on the popular meme coin.
For those keeping an eye on the Average Directional Index (ADX), it’s currently signaling a robust uptrend for DOGE. This uptrend could potentially push the price of DOGE beyond its current value of $0.42 per coin.
Should the $0.36 support level hold steady, there is a possibility for DOGE to climb further to reach $0.48, or possibly even hit the coveted $1 mark. On the flip side, if we see a decline in whale activity, this might contribute to a downward trend in the price of DOGE, potentially dropping it to $0.32.
It’s always prudent to keep an eye on whale activity when considering the future movement of a cryptocurrency. Stay informed, stay vigilant, and happy investing!
