Last week, the popular Dogecoin (DOGE) Memcoin attracted the attention of large investors, although its price remains stable and moves in a narrow range.
We figure out what is happening on the Dogecoin (Doge) market and what to expect from the price of cryptocurrency.
Whales accumulate Dogecoin
According to Intotheblock, over the past seven days, the net inflow of capital from large DOGE holders has increased by 112%. This means that more coins enters the wallets of whales than it comes out. Even despite the stagnation of the price of a memcoid, this cohort of investors continues to believe in its long -term potential.
In addition, the traders in the futures market also retain optimism. This is evident in sustainable demand for long positions. According to Coinglass, the funding rate of the coin at the time of publication is 0.0026%. A positive rate indicates high demand for long positions, which means more traders expect a price of DOGE price.
DOGE Forecast: Perhaps rally to $ 0.175
If large holders continue to accumulate DOGE and positive moods intensify, the price can grow to $ 0.175. This will be a significant jerk after recently consolidation.
The breakdown of this barrier will open the road to $ 0.206. However, if the purchasing activity weakens, the price risks again to test support at $ 0.148.
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Source: Cryptocurrency
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