DOGE Whales Acquire 410 Million DOGE as Buy Signal Emerges
Large Dogecoin investors, often referred to as “whales,” have increased their holdings over the past week. On-chain data suggests that the leading meme token is undervalued, providing a buying opportunity for those looking to trade against current market trends.
DOGE may rebound in the short term as whale accumulation increases. This analysis explores why.
The Dogecoin whale is back
In the past week, Dogecoin whale Holding 10,000,000 to 100,000,000 DOGE has accumulated 410 million DOGE, worth US$140 million. Currently, this group of whales holds a total of 22.54 billion DOGE, which is the highest holding level since February 2016.
When large holders of an asset increase their token accumulation, it signals confidence in its near-term potential. This buying activity reduces circulating supply, potentially creating scarcity and driving up prices. Additionally, whale accumulations like these attract retail investors, amplifying demand and supporting bullish price trends.
The reason behind the recent DOGE Whale’s Spike The accumulation is clear at a glance. Its negative market cap to realized value (MVRV) ratio reading shows: Meme Coin Valuations are currently undervalued, providing an excellent buying opportunity for those looking to take advantage of market trends.
As of this writing, the coin’s one-day MVRV ratio is -1.76. This metric measures whether an asset is undervalued or overvalued.
Historically, a negative MVRV ratio like this represents a buy signal. The asset is trading below its historical acquisition cost and could rebound, they said. Therefore, they provide good buying opportunities for those looking to “buy the dip” and sell for a profit.
DOGE Price Prediction: Accumulation could push the coin to $0.48
On the daily chart, DOGE’s Chaikin Money Flow (CMF) reflects increased accumulation. As of this writing, the Momentum indicator is in an uptrend at 0.03.
When an asset’s CMF is positive, it indicates that there is buying pressure in the market and more money is flowing into the asset than going out. This shows strong investor confidence and is a bullish sign for price action.
Therefore, if DOGE whales continue to accumulate, it could push the price of the meme coin to $0.48. On the other hand, if the sell-off reoccurs, Its price may drop to $0.29.
Disclaimer
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