Dogecoin Rockets 926% in Bullish Whale Activity: What About DOGE Price?

Dogecoin Surge: Whales Accumulate as Breakout Looms

The renowned meme cryptocurrency, Dogecoin (DOGE), has reignited attention due to notable on-chain activity.

In the past 24 hours, the "Large Holders Netflow" metric from IntoTheBlock has witnessed a significant increase from -2.23 million DOGE to 20.66 million DOGE. This positive shift indicates a substantial amount of DOGE being acquired by whales.

Delving further, the total inflow of DOGE to whale wallets reached 76.33 million coins, surpassing the 55.67 million outflow. Despite increases in both inflows and outflows, inflows have remained dominant.

Price Outlook

The price action of DOGE has focused on a dynamic resistance level that forms the upper boundary of the falling wedge pattern that has developed over the past nine months. Traders closely monitor this bullish pattern's formation and potential breakout.

Whales' accumulation suggests anticipation of the pattern's eventual breakout. The bullish activity could lead to significant price fluctuations for DOGE.