Whales Drive Dogecoin Price Surge Amid Strong Buying Activity

Dogecoin's price has seen a surge in recent days, with whales buying up large quantities of the cryptocurrency. According to data from Santiment, 160 million DOGE were accumulated by large holders in just 96 hours, adding to a growing trend of whale activity around Dogecoin.

The buying was worth approximately $18 million at current prices, and marks a significant move for the cryptocurrency. As previously reported, large holders have been buying up Dogecoin in recent weeks, with more than $330 million worth purchased during a period of tight price movement.

The latest move saw Dogecoin's price rise by 4% in the past day and gain 14% over the past week. The cryptocurrency broke above the key $0.109 level during early Asia trading, making it a crucial support point for bulls.

Traders are now watching whether this support will hold, with the next resistance target sitting near $0.114. A drop below $0.109 could signal that the breakout has failed.