Significant Dogecoin investors, commonly known as whales, accumulated approximately 310 million $DOGE within a single 24-hour period during a recent price dip. This strategic accumulation appears timed with a price bounce from a key support level near $0.213, suggesting confidence among large holders in the meme coin’s near-term potential.
Traders and analysts are now watching for a potential breakout targeting the $0.240 to $0.250 range. A critical factor for this move will be overcoming resistance observed in the $0.235 to $0.243 price band; success there could pave the way for a rally of approximately 28%.
The holdings of these large Dogecoin wallets now exceed 72.6 billion DOGE collectively, reflecting their considerable influence on market movements and sustained conviction at current levels. The increased activity was accompanied by strong market participation, as evidenced by a 24-hour trading volume surpassing $2.2 billion, lending further support to the potential breakout scenario.