Whales are accumulating Dogecoin as price retests historical support
The recent WhalesStats the data could suggest whales are hoarding Dogecoin as its price flirts with the all-time high of $0.15. Whales are generally known to accumulate during periods of soaking or consolidation.
According to WhaleStats data, Dogecoin has made a comeback among the top 10 purchased tokens by BSC whales. At the time of publication, the top 1,000 BNB whales are holding $46,070,284 worth, or 324,950,073 DOGE.
Dogecoin was also among the top 10 holdings of Binance whales and the top 10 smart contracts used.
Dogecoin price action
According to CoinMarketCap, Dogecoin is outperforming with 6.85% gains in the last 24 hours. At the time of writing, the leading canine crypto is changing hands at $0.153 after reaching intraday highs of $0.157.
Dogecoin might see a bullish comeback as it formed a candlestick on the daily chart when it touched the key support at $0.14. As a result, a transitional candlestick, known as the “Doji”, developed, indicating an ambivalence between bears and bulls. Doji candlesticks, when encountered at the bottom of trends, can indicate a reversal in price direction.
IT engineer Billy Markus, or Shibetoshi Nakamoto, who cofounded the original meme cryptocurrency, Dogecoin in 2013, highlighted the importance of the area near the $0.15 level in early February while speaking about the Dogecoin price. The Dogecoin co-founder had tweeted: ”dog coin flirting with its old friend 15.”
He also said the flirtation with all-time highs of $0.73 was short-lived. On the upside, the $0.157 level remains a major hurdle for bulls to overcome if buying pressure builds.
