Bittime - Dogecoin (DOGE) is on a bullish trend! The price surged past $0.20 for the first time since December 2024, marking an incredible 150% gain in just one week. Interestingly, even at these new highs, large investors, known as whales, are still buying large amounts of DOGE.
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Whales Accumulate DOGE Despite High Prices
While some investors might cash out (sell) at a peak like this, Dogecoin whales demonstrate a different strategy. On-chain data (blockchain data) reveals that these large investors have been steadily accumulating DOGE. This information was obtained from an analysis of wallets holding a minimum of 1 million DOGE (approximately $200,000).
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In just the past week, whales have purchased a staggering 1.34 billion DOGE, worth $250 million. This significant buying action shows that whales are very bullish (optimistic) about the future potential of Dogecoin. Their actions may also influence small investors (retail investors) to join the trend and buy DOGE themselves.
$0.30 in Sight? Resistance Levels are Important to Pay Attention to
Based on whale activity and the current rally, DOGE appears poised to reach $0.30 in the coming weeks. Currently, the price is hovering just above a technical indicator called the “Upper Bollinger Band,” indicating strong bullish momentum.
According to fxempire.com observations, if DOGE can break through the $0.25 resistance level, a further 50% price increase could occur.
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However, There is Always the Chance of a Pullback (Decline)
If the price falls below $0.15, an important support level, the rally may lose momentum.
However, another technical indicator, the “Upper Bollinger Band,” suggests buy-wall support at $0.17, which could prevent a significant decline.
Doge Price 06/03/2024 Market Bittime.com
Will Dogecoin reach $0.30? Only time that can answer. But one thing is certain: whales are betting big on DOGE, and their actions definitely influence the market.
Important Terms:
- Whales: Large investors who own a lot of cryptocurrency.
- Accumulation: Buying and holding large amounts of cryptocurrency.
- Bullish: Optimistic about the future prospects of cryptocurrencies.
- Rally: A sustained rise in cryptocurrency prices.
- Resistance: A price level at which a cryptocurrency may have difficulty climbing higher.
- Support: A price level where a cryptocurrency may have difficulty going lower.
- Pullback: A decline in the price of a cryptocurrency after a period of increases.
How to Buy Dogecoin (DOGE) on Bittime
You can buy and sell Dogecoin (DOGE) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Dogecoin (DOGE) is available on Bittime with the market pair DOGE/IDR . To be able to buy DOGE USDT on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Dogecoin (DOGE) on Bittime .
Monitor price chart movements of Dogecoin (DOGE), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Dogecoin Soars: Has it Corrected or Still Rising?
Business with Dogecoin (DOGE): Here is a List of Companies that Accept DOGE!
Dogecoin vs Bitcoin: What are the Differences and Advantages?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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