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Recently, the Crypto Assets market has seen increased Fluctuation; however, DOGE has experienced a wave of large-scale accumulation. According to market monitoring data, over the past two days, some large investors (commonly known as "Whales") have bought approximately 310 million DOGE against the trend, with a total value close to 73 million USD.
These main buyers are large holders with 100 million to 1 billion DOGE. After this increase in holdings, the total position has surged to an astonishing 25.42 billion, equivalent to tens of billions of dollars in market value. This move has attracted widespread attention in the market.
Analysts point out that this wave of accumulation may be a strategic positioning in response to the current technical situation of DOGE. Currently, the price of DOGE is testing the key support level of 0.2577 USD. If this support level can be effectively maintained, it is not ruled out that DOGE may subsequently challenge last year's high of 0.4846 USD.
However, investors also need to be vigilant, as the Crypto Assets market has always been subject to Fluctuation. The behavior of Whales may indicate certain trends, but it does not necessarily mean that there will be a price increase. Market participants should view this rationally, considering various factors comprehensively and making prudent decisions.
Regardless, this large-scale accumulation undoubtedly gives DOGE a shot in the arm and brings a glimmer of confidence to its supporters. Moving forward, the market will closely watch the price trend of DOGE to see if it can break through the current technical resistance and regain upward momentum.