Dogecoin Retests Historical Support Amid Accumulation by Whales: See Details


The recent WhaleStats data might suggest that whales are accumulating Dogecoin as its price flirts with the historical $0.15 level. Whales are typically known to accumulate during periods of dip or consolidation.

According to WhaleStats data, Dogecoin has made a comeback among the top 10 purchased tokens by BSC WhaleStats. At the time of publication, the top 1,000 BNB whales are holding $46,070,284 worth, or 324,950,073 DOGE.

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WhaleStats
Top Ten Holdings, Courtesy: whalestats.com 

Dogecoin was also among the top 10 holdings by Binance whales and the top 10 used smart contracts.

Dogecoin price action

According to CoinMarketCap, Dogecoin is outperforming with 6.85% gains in the last 24 hours. At the time of writing, the leading canine crypto is changing hands at $0.153 after reaching intraday highs of $0.157.

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Dogecoin might see a bullish comeback as it formed a candlestick on the daily chart when it touched the key $0.14 support. As a result, a transitional candlestick, known as a “Doji,” has developed, indicating ambivalence between bears and bulls. Doji candlesticks, when encountered at the bottom of trends, may indicate a price direction reversal.

TradingView
DOGE/USD Daily Chart, Source: TradingView

IT engineer Billy Markus, or Shibetoshi Nakamoto, who cofounded the original meme cryptocurrency, Dogecoin in 2013, highlighted the importance of the area near the $0.15 level in early February while speaking about the Dogecoin price. The Dogecoin co-founder had tweeted: ”dog coin flirting with its old friend 15.”

He had also commented that the flirt with $0.73 all-time highs was pretty short-lived. On the upside, the $0.157 level remains a key hurdle for bulls to conquer if buying pressure increases.




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