Dogecoin cryptocurrency is found under the title of dogs (DOGE) in the spotlight where the data on the series reveals an amazing accumulation spray by encrypted whales. According to the encryption analyst on“The whales bought 600 million Dogecoin (DOGE) in the last 48 hours.”
Ingecoin flows of adult holders coincide with the current boom in the encryption market, which saw Bitcoin higher 104,000 dollars for the first time since January. Dogecoin also benefited from this momentum ascending. Thus, whales can put themselves in anticipation of broader gains.
At the time of this report, Dogecoin has risen by 2.26 % in the past 24 hours to $ 0.2334. Dog made slight gains after a big jump in the prices that spanned three consecutive days, albeit 35 % higher per week.
Dog is only second behind ETHEREUM in weekly gains among the top 10 cryptocurrencies through the market value, with ETH increased by 38 % over the past seven days.
Doug Price’s work
Dogecoin touched its highest price since February 21 early on Sunday, reaching $ 0.259, and continued to increase a decrease of $ 0.164 on May 6, as Bitcoin is close to its highest level ever.
Along with price gains, Dogecoin’s open interest increased by 9.84 % in the previous 24 hours to $ 2.85 billion, an unprecedented level since mid -February, according to Coinglass. The open interest reflects the total value of future futures contracts.
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Dogecoin is currently facing resistance on Sunday between $ 0.259, near Daily SMA 200 at $ 0.265.
In the upcoming sessions, a decisive break will be monitored over SMA Daily SMA 200 for Dogecoin for progress. On the other hand, support is imagined in Daily SMA 50 if the prices are low. However, if the momentum kiosks, DOGECOIN may combine between Sma Daily SMA 50 and 200 for a period of time before making its next step.
