Whales Buy 460M DOGE During the Dip as MACD Bullish Crossover Approaches

Whales' Dogecoin Accumulation Coincides with Bullish Indicators

According to recent data, whales purchased 460 million DOGE during a price decline. This significant activity indicates an increase in their holdings as Dogecoin's price hovered around $0.321.

Capitalizing on Market Dip

The acquisition coincided with a market dip, suggesting that major players were taking advantage of lower prices to increase their stakes. This resulted in a sharp decline in DOGE's price, followed by a substantial rebound.

Potential Floor at $0.321

This pattern signals that whale buying pressure can stabilize the price after a drop, providing a potential floor at around $0.321.

Bullish MACD Crossover

Further analysis shows a bullish MACD crossover on the 4-hour chart, indicating a shift in momentum from bearish to bullish. This occurred as the MACD line crossed above the signal line, suggesting increasing buyer momentum.

Potential Resistance Levels

As the crossover approaches, DOGE has recovered from a lower support level and is trading around $0.32. The bullish crossover could lead to increased volume and further appreciation. If DOGE sustains its momentum and remains above $0.30, it could challenge resistance levels at $0.34 and possibly $0.36 in the short term.

Hammer Pattern on Daily Candle

Dogecoin's daily candle closed with a Hammer pattern at $0.29, suggesting a potential reversal to the upside. This bullish pattern indicates strong buying pressure despite the day's sell-off. If DOGE maintains its position above the Hammer's close and moves past $0.30, it could confirm the reversal, targeting resistance levels at $0.34 and $0.36.