Whales' Accumulation Sends DOGE Price to Key Resistance Point
Dogecoin (DOGE) has been experiencing an extended accumulation phase, during which time it has not delivered a sustained bull-market rally. According to crypto analyst Chad, the price of DOGE has spent an unusually long period consolidating.
The data from Dogegod shows that Dogecoin is experiencing a remarkable increase in activities worth big value, with about 60 billion DOGE reportedly used for large transactions on a daily basis. This suggests growing involvement of whales or big market players in transactions.
If the buying pressure persists and the DOGE price breaks key resistance with strong momentum, it could begin a significant upward move. The cryptocurrency's price structure and transaction milestone point to a bullish reversal ahead.