Dogecoin Whales Seize on Price Dip, Accumulate Over 240 Million Tokens

Large Dogecoin (DOGE) holders have been accumulating tokens at a rate of over 240 million during the recent price dip. The accumulation pattern coincided with a technical indicator known as TD Sequential flashing a buy signal on the four-hour chart.

The TD Sequential buy configuration appeared around $0.0839, which has a track record of being followed by rebounds of 6.96%, 2.71%, and 11.25% in previous instances. At roughly $0.0837 per token, the 240 million DOGE purchase represents about $20.1 million.

The derivatives market also shows renewed interest in Dogecoin, with futures and options trading volume surging 65.06% to $1.17 billion. The open interest registered $1.26 billion, a slight 1.61% decline.