According to crypto analyst Ali Martinez, over the past 24 hours, there has been high activity from "whales" in the Dogecoin network (DOGE) — large holders acquired more than 230 million meme coins. This occurred after the record on August 6, when crypto whales bought over 1 billion DOGE in 24 hours.



Martinez also added that Dogecoin is trading in a historically strong "buying zone," a range that has led to significant growth in past market cycles. At the time of writing, DOGE had risen by more than 8% and recently surpassed a key resistance level at $0.218.

Dogecoin managed to stay above the key support zone in the range of $0.165 to $0.202, a level that experts believe is important for maintaining the bullish trend. Over the weekend, DOGE briefly dropped to $0.19, but buyers quickly intervened and prevented a more significant decline.

This recent rebound could mark the beginning of a recovery phase. The next serious test for the meme coin is the range from $0.209 to $0.22, which has previously served as both support and resistance. A confident move above this level, especially with increasing trading volumes, could lead to a sharp rise to the $0.28–$0.29 zone, a level that has not been seen for several months.
DOGE-5.87%
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