Dogecoin (DOGE), the largest and most famous meme coin globally, is capturing the interest of crypto whales and investors because of its appealing price range. Data from the on-chain analytics company Santiment reveals that crypto whales have acquired a substantial 150 million DOGE in the last three days.
Crypto Whales Acquire 150 Million DOGE
This significant purchase took place while DOGE was consolidating near a critical support level of $0.185. It also suggests that whales and investors are taking advantage of the current market sentiment and bearish price action to amass the token, despite concerns about potential price drops.
Whales bought 150 million #Dogecoin $DOGE in the last 72 hours! pic.twitter.com/YRtujig2BO
— Ali (@ali_charts) March 6, 2025
Current Price Momentum
DOGE is presently trading at $0.19 and has witnessed a price decrease of over 8% in the last 24 hours. Meanwhile, its trading volume has risen by 50% during the same period, indicating increased participation from traders and investors, reflecting the community’s optimistic outlook.
Dogecoin (DOGE) Technical Analysis and Future Level
According to CoinPedia’s technical analysis, DOGE is consolidating within a narrow range and is currently at a crucial support level of $0.185. Considering recent price movements and historical momentum, if it breaks out of consolidation and closes a daily candle above $0.21, there is a strong chance that the meme coin could surge by 20% to reach $0.25 in the upcoming days.
Moreover, DOGE’s Relative Strength Index (RSI) is around 35, indicating weak momentum, which could be a significant factor in the meme coin’s ongoing challenges.
$43 Million Worth of DOGE Outflow
Another aspect drawing attention among cryptocurrency enthusiasts is the continuous outflow of DOGE tokens from exchanges. Data from the on-chain analytics company Coinglass indicates that exchanges have been observing consistent outflows since the start of February 2025, signifying potential accumulation by long-term holders and investors.
Furthermore, the data reveals that exchanges have witnessed $43 million worth of DOGE outflows in the last 48 hours, suggesting further accumulation that could potentially bolster the meme coin’s recovery soon.
Considering these on-chain metrics alongside technical analysis, it seems that investors are optimistic about the meme coin, although in the short term, the market may experience some additional correction.
