Dogecoin’s price has dropped 14% over the past two days, leading to concerns among investors. Despite this decline, there are signs of a potential price reversal, as crypto whales are preparing to buy in.
The price-DAA divergence indicator has signaled a buying opportunity. While Dogecoin's price fell, the number of active addresses on its network increased, suggesting that investors may be accumulating DOGE at lower prices.
Whale addresses holding significant amounts of DOGE showed increased activity. In the past 24 hours, 417 million DOGE have been purchased by these large holders, amounting to roughly $45 million, the highest in a month.
This increase in whale activity indicates strong confidence in Dogecoin’s potential recovery. The next key resistance levels to watch are $0.107 and $0.118. Successfully breaching these could lead to further price gains.
If Dogecoin fails to hold the support at $107, it could face further consolidation between $0.107 and $0.094, delaying any anticipated recovery.
