Dogecoin Naik Signifikan, Akumulasi Whale DOGE Meningkat

Dogecoin (DOGE) Surges Amidst Whale Accumulation

Dogecoin (DOGE) has experienced a remarkable price surge, climbing over 27 percent in the past seven days. This sudden rally positions DOGE as one of the top-performing major cryptocurrencies.

Whale Accumulation Signals Further Price Jump

Despite recent consolidation, on-chain data suggests another price jump may be imminent, driven by the strategic moves of large-scale investors known as DOGE whales.

According to analytics firm IntoTheBlock, the number of addresses holding at least 10 billion DOGE has surged by 50 percent in the past 30 days. This spike in whale activity is a strong indicator of their bullish sentiment towards the memecoin's short-term potential.

Historically, the reduction of whale ownership has often foreshadowed price declines, as these large investors tend to sell off their coins, triggering downward pressure on the market.

However, the recent increase in whale ownership indicates the opposite—these investors are accumulating more DOGE, likely in anticipation of future price appreciation. If this trend continues, it could provide the necessary momentum for DOGE to break out of its current consolidation phase and rally higher.

Further bolstering this bullish outlook is data from the In/Out of Money Around Price (IOMAP) tool, as reported by BeinCrypto. This tool analyzes the distribution of DOGE holders based on their average purchase price, identifying whether they are in the money (profit), out of the money (loss), or at the break-even point.

Currently, approximately 1.11 million addresses hold a total of 13.78 billion DOGE, purchased in the range of $0.089 to $0.10. These holders are in the money, indicating strong support around the $0.10 level.

Conversely, around 360,970 addresses, holding over 48 billion DOGE at an average price of $0.12, are out of the money.

This data suggests that while there is significant resistance at higher levels, the current support is strong enough to allow DOGE's price to push higher.

DOGE Eyes $0.13, Can it Break Through Resistance?

Prior to its recent rally to $0.10, DOGE endured a sharp decline, losing 39 percent of its value and dropping to as low as $0.082. Despite this volatility, the daily chart shows a positive Cumulative Volume Delta (CVD), a metric that tracks the difference between buy and sell volume.

The dominance of green bars on the CVD chart indicates that buying pressure currently outweighs selling pressure, boding well for DOGE's short-term outlook.

If this buying trend continues and DOGE whales maintain their accumulation strategy, the price could retest the $0.11 level in the coming days.

Should the bullish momentum persist, breaking through the $0.13 resistance level is not out of the question. However, it is important to acknowledge the potential for a downside correction.

If whales begin to distribute their holdings, DOGE could face renewed selling pressure, pushing the price back below $0.10.