Dogecoin finally broke over $0.76 in the last 24 hours after a week of range trading and has emerged as a formidable performer in the past month. The crypto has seen gains of 25.9% in a 30-day timeframe, but the rally may be far from over.

Dogecoin은 일주일간의 범위 거래 이후 마침내 지난 24시간 동안 0.76달러를 돌파했으며 지난 한 달 동안 강력한 성과를 거두었습니다. 암호화폐는 30일 동안 25.9%의 상승률을 보였지만 랠리는 아직 끝나지 않았습니다.

DOGE whales have been working tirelessly behind the scenes to put the meme coin on the map, increasing their holdings by a substantial amount in the past month. On-chain data has revealed that large DOGE addresses have added more than $2 billion in DOGE in an effort to drive the crypto towards the $0.1 level.

Dogecoin Whales Inject $2 Billion Into DOGE In 30 Days

Dogecoin 고래, 30일 만에 DOGE에 20억 달러 투자

Data from the crypto analytics platform IntoTheBlock has reiterated the current bullish sentiment among Dogecoin whales. According to its Balance By Holdings metric, the balance of addresses holding between $100,000 to $1 million worth of DOGE has increased by 24.31% in the past 30 days.

Likewise, addresses holding between $1 million to $10 million increased by 27.43%, and addresses holding more than $10 million worth of DOGE increased by 29.28%. 

마찬가지로 100만~1000만 달러를 보유한 주소는 27.43%, 1000만 달러 이상 DOGE를 보유한 주소는 29.28% 증가했다.

A closer look into this metric’s chart shows that the collective holdings of these addresses holding at least $100,000 worth of DOGE increased from $7.37 billion on October 7 to $9.469 billion on November 9. This implies that the crypto’s whales have acquired an additional $2.099 billion in DOGE within the past month.

Source: IntoTheBlock

출처: IntoTheBlock

For regular investors, this whale activity is a bullish signal for DOGE’s price trajectory, as whale accumulation is still ongoing. IntoTheBlock’s data has also revealed these addresses holding at least $100,000 worth of DOGE have acquired $119 million in DOGE in the past 24 hours alone. 

IntoTheBlock’s Order Books metrics reveal an interesting imbalance between the supply and demand for DOGE. At the time of writing, buyers have placed buy orders of 902 million DOGE on various crypto exchanges. Meanwhile, sellers have only put up 876 million DOGE for sale.

IntoTheBlock의 Order Books 지표는 DOGE에 대한 수요와 공급 간의 흥미로운 불균형을 보여줍니다. 이 글을 쓰는 시점에서 구매자는 다양한 암호화폐 거래소에 9억 2백만 DOGE의 구매 주문을 했습니다. 한편 판매자는 8억 7600만 DOGE만을 판매했습니다.

Source: IntoTheBlock

Will DOGE Return To $0.1?

DOGE는 $0.1로 돌아갈 것인가?

The current shift towards higher demand and the current accumulation of whales speaks volumes of the current sentiment around Dogecoin and the massive injection of capital into Dogecoin could significantly impact its price. 

현재 더 높은 수요로의 전환과 현재 고래의 축적은 Dogecoin에 대한 현재 정서의 양을 말하며 Dogecoin에 대한 대규모 자본 투입은 가격에 큰 영향을 미칠 수 있습니다.

Crypto analyst Ali Martinez pointed out on X that DOGE’s crucial support wall at the $0.072 to $0.073 price point outstrips the resistance in strength. According to Martinez, a breakout over $0.76 puts the next significant hurdle at $0.084. 

#Dogecoin is navigating a tight zone, sandwiched by two crucial supply walls.

📉 Support Wall: Spanning $0.072-$0.073, with 200K addresses holding 28.6B $DOGE.

📉 지지 장벽: $0.072-$0.073 규모, 200,000개 주소에 286억 달러 DOGE 보유.

📈 Resistance Wall: Ranging from $0.074-$0.076, where 124K addresses hold 26.95B #DOGE.

Note that support outstrips… pic.twitter.com/O5FRIJ1SIl

지지율이 더 높다는 점에 유의하세요… pic.twitter.com/O5FRIJ1SIl

— Ali (@ali_charts) November 8, 2023

— 알리(@ali_charts) 2023년 11월 8일

At the time of writing, the bulls have pushed DOGE by 4.28% in the past 24 hours, and the crypto is now trading at $0.07686. Continued buying pressure from the whales and retail traders could push DOGE back up to $0.1, which we haven’t seen since June.

DOGE price reclaims $0.076 | Source: DOGEUSD on Tradingview.com

DOGE 가격은 $0.076를 회복합니다 | 출처: Tradingview.com의 DOGEUSD