- Whales bought 750 million DOGE, plus 100 million more.
- Neptune Digital Assets purchased 1 million DOGE, boosting confidence.
- $0.342 resistance level could signal a major price surge.
The crypto market is facing a state of uncertainty, leaving investors on edge. Bitcoin and Ethereum are showing signs of volatility, but Dogecoin is grabbing attention.
Analyst Ali Martinez reported on X that whales have accumulated a massive 100 million DOGE tokens. This is another major accumulation, following the recent dip where whales grabbed the chance to buy 750 million DOGE..
This comes on the back of efforts to expand Dogecoin’s utility in payment systems and e-commerce platforms, which could boost its long-term value.
Furthermore, Neptune Digital Assets, a publicly traded Canadian blockchain company, made a strategic purchase of 1 million DOGE tokens, valued at approximately $270,000. Neptune is the second publicly traded company to purchase Dogecoin, following Spirit Blockchain, another digital asset company.
Related: Elon Musk DOGE Team Moves to End $8M Federal Politico Subscriptions Amid USAID Funding Controversy
Dogecoin Price: Key Levels and Potential Targets
After a recent sharp drop, Dogecoin held steady above the $0.20 mark. It is now in a critical phase, as it tries to determine its next move. For an upward movement, the key resistance level lies at $0.342, and a break above this level would confirm the possibility of a rally.
If this resistance is surpassed, the next target would be $0.60. The next resistance levels are at $0.77 and $0.84
However, if Dogecoin fails to break above $0.342 level, the risk of further downside remains. In the worst case, a drop below $0.19 could lead to a deeper correction, with $0.17 being a critical level.
Related: 750 Million DOGE Moved: The Memecoin, Musk, and the US Treasury?
An analyst also pointed out that while meme coins are struggling right now, DOGE is looking strong. And after analyzing the Elliott Wave, he said that there’s a big ABC pattern forming on both the USD and BTC pairs, which could lead to a 2-3x price increase soon.
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