Dogecoin Eyes Bullish Continuation on April 16 as Whales Add 800M DOGE in 48 Hours

Whale wallets added 800 million DOGE in 48 hours, increasing their total holdings to 72.18 billion.

DOGE maintains strong support at $0.1580; resistance remains near $0.1660.

RSI and MACD indicators suggest a potential bullish reversal this week.

Dogecoin (DOGE) demonstrates renewed strength following a recent correction, driven by a sharp price rebound and substantial purchases from whale wallets. The cryptocurrency, which recently dipped after reaching a high near $0.169, has experienced a significant increase in investor interest.

Why Are Dogecoin Whales Accumulating DOGE?

A major factor contributing to this resurgence is the accumulation of over 800 million DOGE by whale wallets in the past 48 hours. Ali Martinez reported that large holders, possessing over 1 billion DOGE, have collectively increased their holdings to 72.18 billion DOGE. This aggressive buying coincides with the recent DOGE price rebound. Many traders view this accumulation as a bullish signal, as whale activity often precedes significant price movements.

Source: X

Dogecoin's price decline, which lasted until April 7th, reversed shortly afterward, leading to a climb to...

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