Dogecoin Price Holds Steady Despite Whale Buying Surge

Dogecoin's price has remained steady at $0.069 despite a decline in the last 24 hours, but big investors have been buying up large quantities of the meme coin.

According to X crypto commentator @dogegod, whales have accumulated an additional 1.7 billion DOGE, worth approximately $119 million, in a single day.

This significant buying during a price slump suggests that whales believe in the long-term value of Dogecoin, despite retail investors' cautiousness.

The TradingView daily chart shows that Dogecoin remains in a bearish trend, trading below both the 50-day moving average at $0.07388 and the 200-day moving average at $0.09294.