Dogecoin: A billion Doge accumulated by whales, the signal of a reversal?

Despite the recent drop in the price of Dogecoin, on-chain data have revealed an interesting trend: the Doge whales actively accumulate the room. While the asset records downward movements, these large portfolios have taken the opportunity to buy the decline. Could they position themselves for a possible market reversal?

Dogecoin whales accumulate more than 1 billion Doge despite the drop in prices

DOGE is currently exchange at $ 0.20 after a fall of more than 7 % this week. However, the commentator Crypto Ali Martinez noted that despite this drop, the Dogecoin whales bought more than a billion Doge on August 6.

For context, the group under the spotlight is made up of large portfolios holding at least 1 billion Doge, which represents around 200 million dollars at current prices. Given their enormous reserve of assets, whale traders are often closely monitored by market players, because they are deemed to exert a considerable influence on the market.

In addition to his comments, Ali published a graph showing the last distribution of the Doge's whale offer. The “distribution of the offer” is an indicator that shows the total amount of the assets held and distributed among its holders.

Looking at Ali's graphic, the following trends were observed:

• The big holders of Dogecoin (more than a billion Doge) began to buy more in late June and early July.
• As the whale assets increased, the Doge's price also climbed high from MI to the end of July.
• Around July 29, the assets of the whales as well as the price fell, suggesting that certain whales left their assets.
• Although the price of the DOGE remained low, the assets of the whales increased again in the last week.

Interestingly, these large portfolios seem to have intensified the purchase pressure in the last 24 hours, with an on-chain accumulation increasing. Experts believe that the time of this purchase could be strategic – a possible movement of these large investors to accumulate the room at lower prices.

However, it remains to be seen if this daring movement will turn into a winning trade for whales. In addition, analysts warn that whale movements are not clear indicators of market trajectories.

Doge remains stable despite mixed signals and whales activity

Even with the drop recorded this week, the price of Dogecoin is still evolving in the green area on its monthly graph. Price action indicators and technical trends provide more information on the movement of the Doge market.

Here are the main on-chain trends Note regarding the movement of the price of Dogecoin:

• Dogecoin surpassed 81% of the 100 main cryptos this year.
• He recorded 16 positive days in the last 30 days, showing a short -term force.
• However, the room still evolves under its simple mobile average at 200 days.
• In addition, DOGE is down 72 % compared to its historic summit of $ 0.73.

The technical aspects also highlight a change in the feeling of the market. As the EXPERT CRYPTO Tardigrade, An enlarged corner pattern appeared On the 7 -day graph. According to the analyst, this type of configuration is generally associated with price fluctuations between $ 0.22 and $ 0.48.

In addition, the relative force index progresses slowly to the occurrence area, currently located at 44.7. At the same time, the stable Chaikin Money Flow at -0.01 indicates reduced sales pressure, although the market management remains uncertain.

A renowned market analyst, Alienovicho, stressed that Dogecoin found a support at $ 0.19 After completing a triple swing down since its recent peak. He added that the configuration shows signs of a possible bullish break, even if no confirmed hollow has yet been established.

Although the recent whale activity has drawn market attention to the broad sense, the mixed price actions of Dogecoin indicate a certain uncertainty – particularly in the short term. In this context, market players actively monitor future developments.