Time to Buy Dogecoin? Whales Buy 530 Million DOGE
Amid the ongoing bearish price momentum, Dogecoin (Doge) is the largest and most popular Meme coin, which has attracted significant attention from crypto enthusiasts due to the price decline in recent days.
Crypto whale bought 530 million tomas
On February 28, 2025, a well-known crypto expert shared an article on X (formerly Twitter) and revealed that in the past three days when Doge’s price dropped, whales purchased dipping sauce and accumulated 530 million doors.
Whales bought the dip, accumulating more than 530 million #Dogecoin $DOGE in the last 72 hours! pic.twitter.com/0cRGqxLoXw
— Ali (@ali_charts) February 27, 2025
Doge’s chain data shows that its price fell by more than 17% during the period when the whale bought dipping sauce. It seems that after the critical support level breaks down to $0.238, they start to accumulate.
Dogecoin (Doge) price action and upcoming levels
According to expert technical analysis, Doge appears to be bearish, but has been in a tight range near the critical support levels in the past two trading days. Based on recent price action and historical patterns, Doge remains bearish and may drop another 15% in the future.
As of now, the asset is trading below the 200-day exponential moving average (EMA) of the daily time range, indicating a downward trend.
Current price dynamics and declines in open interest
Doge is currently trading close to $0.206, with a price increase of more than 1.75% over the past 24 hours. However, during the same period, its trading volume fell by 30%, indicating a decrease in traders and investors’ participation, which may be due to the significant fluctuations in price fluctuations that Meme Coin has witnessed in recent days.
With the prospect of bearish markets, data from chain analysis companies Small shop It was revealed that intraday and derivative traders seem to have given up the threshold as their future open interest (OI) has fallen to a minimum in 2025.
Since the presidential inauguration, Doge’s OI has dropped from $5.25 billion to $1.79 billion, reflecting the interest on declining traders, which may be due to market uncertainty and declining momentum.
