Time to Buy DOGE? Whales Buy 470 Million Dogecoin

Amid the ongoing market recovery, Dogecoin (DOGE) emerges as a promising investment opportunity, fueled by the strong interest of whales.

Whale Acquisition

On January 11, 2024, crypto expert X reported that whales acquired a substantial 470 million DOGE within 48 hours.

Historical Support

DOGE's daily chart reveals the significance of the $0.314 to $0.355 price range, where the recent purchase occurred. This indicates a potentially favorable buying opportunity.

Current Momentum

DOGE currently trades around $0.334, experiencing a 4.5% surge over 24 hours. Trading volume has also increased by 15%, suggesting renewed engagement.

Technical Analysis

DOGE has established support at $0.31 and is poised for upward movement. Historically, it has rallied from this level, leading to significant gains.

Resistance and Targets

DOGE faces resistance at $0.34. If it breaks through and closes above $0.345, it could potentially rally 15% to reach $0.40 in the short term.

RSI Indicator

DOGE's Relative Strength Index (RSI) approaches oversold territory, signaling a potential for recovery in the coming days.

Bullish Outlook

The cryptocurrency market maintains bullish sentiment, albeit within a correction phase. This momentum may intensify following the inauguration of President-elect Donald Trump on January 20, 2025.