Whales Are Beginning to Shift Focus Toward Dogecoin

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Whales are beginning to shift focus toward Dogecoin as it attains new highs in prominent metrics. Recent data from WhaleStats, a Binance Chain (BSC) wallet tracker, revealed that whales are now turning their focus to Dogecoin as deep-pocketed individuals start making large-scale purchases of the assets.

The whales are now following DOGE as a token on the Binance Chain network, helping it rise in two ways. One of the top 10 coins in terms of trading volume in the cryptocurrency market during the previous 24 hours is Dogecoin. As of now, BSC whales are among the most active buyers of Dogecoin. Given that Dogecoin is still attracting investors’ interest, this information seems to be positive for DOGE.

Key Dogecoin Levels To Watch – December 15

The market just broke out of a descending channel. This descending channel began its course in October 2022. The breakout was a result of the price reaction towards the daily bullish order block 0.0490 price level. The daily bullish order block caused an expansion to the upside, which eventually caused a change of character (CHOCH) to the upside.

Whales Are Beginning to Shift Focus Toward DogecoinThe current trading range is defined by the 0.0490 and 0.1590 price levels. Since the market’s price action is showing signs of bullishness, the price might head into an optimal trade entry (OTE) to grab sell-side liquidity for a massive expansion to the upside.

Resistance Levels: $0.7610, $0.3560, $0.1590
Support Levels: $0.0550, $0.0.0490, $0.0280

Total Market Capitalization: $870.44B
Dogecoin Market Capitalization: $1.60B
Dogecoin Volume: $0.59B
Market Rank: #8

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Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.