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Dogecoin Eyes Recovery as Whale Accumulation Signals Fresh Interest
Whales Boost DOGE Bags as Price Tests Key Support
DOGE Active Wallets Hit 4-Month High Mark
Stochastic RSI Flashes Bullish Signal for DOGE
Dogecoin (DOGE) is currently trading near $0.14 after declining over 70% since its peak in December 2024. Despite this drop, on-chain data shows accumulation by major holders, suggesting possible confidence in a coming recovery. Technical indicators also point to conditions that have previously marked price rallies.
Large Holders Accumulate as Active Addresses Rise
Data from Santiment indicates that wallet stake exceeding one million DOGE has grown by 1.24% since February.Big investors moved to accumulate DOGE during its downward price phase because they see the coin as underpriced for potential price appreciation.
At the same time, the number of active addresses on the Dogecoin network has risen to its highest level in four months. A higher count of active users generally signals increased interest and use of the network
If the engagement comes from real users and not just trading activity, it can create a base for price stability and growth.During earlier price recoveries, similar patterns of whale accumulation and user activity were present, including a 200% rise in late 2024.
Technical Indicators Support Recovery Setup
DOGE is currently testing a strong support zone that includes both a multi-year ascending trendline and the 200-week exponential moving average (EMA) near $0.13. These levels have previously acted as points of reversal.
Additionally, the Stochastic RSI has made a bullish crossover in the oversold region. This setup often appears before short-term price increases. In past cycles, this technical signal preceded rallies of up to 400% and 88%.Resistance is expected near $0.22, where DOGE previously struggled in early 2024. If the current support holds and buying momentum increases, a 30% short-term recovery may follow. However, failure to hold the support may lead to a drop toward the $0.12 level. Traders will likely watch these key zones closely in the coming days.
The post Dogecoin Eyes Recovery as Whale Accumulation Signals Fresh Interest appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.