Compass Investments

$DOGE

Dogecoin price expects a breakout as whales increase their holdings.

- DOGE accumulation by whales soared 112% over the week, indicating increased interest despite sideways price movement and low volatility.

Futures data shows strong demand for long positions, while a positive funding ratio indicates a bullish sentiment among traders.

Continued accumulation could push #DOGE to $ 0.175, and a breakout would open the way to $ 0.206.

#Dogecoin , the leading #meme coin, has seen a significant surge in interest from large holders over the past week, despite a subdued price movement.

DOGE has been trading in a narrow range with little momentum to move in any direction. Given the accumulation of whales, the altcoin may be ready for an upward breakout in the near future.

According to IntoTheBlock, net inflows from large DOGE holders #rose 112% in seven days.

Large holders are whale addresses that hold more than 0.1% of the asset's total supply. Their netflows track the difference between the amount of coins they buy and the amount they sell over a given period.

When the netflow of large holders grows for an asset, more coins/tokens enter the wallets of these large investors than are withdrawn. This trend indicates that these holders are accumulating DOGE in the face of weak price movement, indicating confidence in its future value.

Moreover, although the DOGE price is barely reacting to the improving sentiment in the overall market, futures traders continue to show confidence. This is reflected in the steady demand for long positions. According to Coinglass, the coin's funding rate is currently at 0.0026%.

Funding rate is a periodic payment between traders of open-ended futures contracts to keep the contract price in line with the spot price.

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