2B Dogecoin Whale Purchase Sparks $DOGE Breakout Hopes
On August 15, on-chain data revealed major Dogecoin (DOGE) whales amassed 2 billion tokens (~$448M) last week, driving Dogecoin trading volume up 10% despite a 6.3% price dip. Technical analysis shows DOGE facing key resistances at a June sell-off zone and a descending triangle trendline. Bullish signals include a rebound from the 200 EMA and support at the 50 EMA on the 4-hour chart. Meanwhile, Elon Musk’s repost of the original Doge meme underscores ongoing bullish sentiment. Traders are eyeing the new meme coin Maxi Doge (MAXI) presale for potential high-risk, high-reward opportunities.
Bullish
Heavy Dogecoin whale purchases of 2 billion tokens suggest strong demand and potential price support. Technical indicators—bounce from the 200 EMA and hold above the 50 EMA—signal a bullish trend if key resistances are overcome. Elon Musk’s endorsement further fuels positive sentiment, mirrored in past rallies following his posts. Meanwhile, emerging meme coin Maxi Doge’s presale shows traders are optimistic about high-risk, high-reward options. Together, these factors point to a bullish outlook for DOGE in both the short and long term.