"Crypto Whales Fuel DOGE Surge: 110M Coins Bought in 48 Hours"

Crypto whales have been actively purchasing Dogecoin (DOGE) in recent days, with nearly 110 million meme coins bought in the past 48 hours. This significant investment by large investors has sparked interest in the cryptocurrency market, despite the overall lackluster performance of other digital assets.

While the price of DOGE has remained relatively stable, trading volume has surged by 25% in the past 24 hours, indicating strong interest from traders and investors. The meme coin is currently trading near $0.25, with a modest 0.80% increase over the same period.

Technical analysis suggests that DOGE is forming a bullish double-bottom pattern on the daily timeframe, although the pattern is not yet complete. The meme coin is also facing mild resistance from the 200 Exponential Moving Average (EMA) on the daily timeframe. If DOGE surges and closes a daily candle above the $0.263 level, there is a strong possibility it could rise by 20% to reach $0.31 in the coming days.

On-chain metrics indicate that long-term holders and investors are showing strong interest in the asset, with a continuous and substantial DOGE outflow worth millions of dollars from exchanges. In the past 24 hours, exchanges have recorded a $9.25 million DOGE outflow, indicating potential accumulation and possible buying pressure. Additionally, intraday traders are over-leveraged at major liquidation levels, with bulls currently dominating the meme coin and supporting its upcoming rally.