DOGE Shows Strong Support at $0.212 as Whale Accumulation Signals Potential Upswing

According to a recent CoinDesk report published on May 18th, data from CoinDesk Research reveals that DOGE has established a crucial support level at $0.212. This higher-than-usual trading volume suggests a resurgence of buyer interest. Notably, whale accounts have amassed over 1 billion DOGE in the last month, raising their cumulative holdings to 25.97 billion DOGE. This accumulation by significant investors hints at their anticipation of a market rebound.

Technical analysis highlights a price bracket between $0.211 and $0.220 observed over the last 24 hours, reinforcing the support area at $0.212. Analysts emphasize that despite prevailing macroeconomic challenges, DOGE continues to trade above critical moving averages and has potentially formed a bull flag pattern. If this trend is substantiated by ongoing buying momentum, it could target a price elevation towards $0.35. Currently, retail futures trading remains at a neutral level, indicating a potential for expansion before market conditions reach saturation.