DOGE Whales Accumulate $48M as Price Tests Critical Support

Dogecoin (DOGE) has been hovering around $0.070 as its price tests critical support levels.

Large holders have accumulated 180 million DOGE during the recent price decline, according to Santiment's Supply Distribution analysis.

This buying interest by major market participants suggests sustained confidence in DOGE's value proposition at these price levels.

Cryptocurrency analyst Ash Crypto pointed out that DOGE has reached unprecedented oversold territory, declining 90% from its peak and touching a 3-year minimum at $0.067.

The derivatives landscape is painting an increasingly optimistic picture, with DOGE's long-to-short ratio climbing to 1.27 on Tuesday, marking the highest reading in more than 30 days.