Dogecoin

<p>Dogecoin (DOGE), the world's largest meme coin, has gained remarkable attention from crypto enthusiasts amid the recent market dip. On December 21, 2024, a prominent crypto expert posted on X (formerly Twitter) that crypto whales have accumulated a significant 250 million DOGE in the past few days.</p>   
<h2 class="wp-block-heading" id="h-whales-purchase-250-million-doge"><strong>Whales Purchase 250 Million DOGE</strong></h2>   
<p>However, the post on X noted that this substantial accumulation occurred during the recent market dip, which followed <a href="https://coinpedia.org/news/feds-anti-bitcoin-stance-triggers-major-crypto-market-sell-off/">Jerome Powell's</a> anti-crypto stance, as reported by CoinPedia.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/ali_charts/status/1870421522474557496 
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</figure>   
<h3 class="wp-block-heading" id="h-current-price-momentum-nbsp"><strong>Current Price Momentum&nbsp;</strong></h3>   
<p>Meanwhile, the impact of this substantial accumulation is currently reflected in the DOGE price. According to CoinMarketCap, the meme coin has surged over 25% in the past 48 hours. It is currently trading near $0.32, with an 8% increase in the past 24 hours.</p>   
<p>Despite this notable gain, long-term holders appear to be continuously accumulating the token, as reported by the on-chain analytics firm <a href="https://www.coinglass.com/currencies/DOGE" target="_blank" rel="noreferrer noopener nofollow">CoinGlass</a>. Data from DOGE's spot inflow/outflow revealed that exchanges have witnessed a significant outflow of $519.19 million worth of DOGE in the past 7 days.</p>   
<p>The outflow is an on-chain metric that indicates the withdrawal of assets from exchanges to long-term holders' wallets. This potentially signals upside momentum and suggests an ideal buying opportunity.</p>   
<h2 class="wp-block-heading" id="h-dogecoin-doge-technical-analysis-and-upcoming-level"><strong>Dogecoin (DOGE) Technical Analysis and Upcoming Level</strong></h2>   
<p>According to expert technical analysis, the meme coin is currently facing strong resistance near the $0.346 level. Based on recent price action, if DOGE breaches this resistance and closes a daily candle above $0.36, there is a strong possibility it could soar by 25%, reaching the next resistance level at $0.44 in the near future.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/12/21221156/DOGEUSDT_2024-12-21_22-11-51.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/21221156/DOGEUSDT_2024-12-21_22-11-51-1024x449.png" alt="" class="wp-image-396140"></a>
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  Source: Trading View
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<p>On the positive side, DOGE's Relative Strength Index (RSI) currently stands at 37.85 which indicates there is a strong possibility of upside momentum in the coming days.</p>

Time to Buy DOGE? Whales Buy 250 Million Dogecoin

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