Dogecoin's large investors, known as "whales," have been increasing their holdings of the meme coin. This suggests that Dogecoin is undervalued and presents a buying opportunity in the current market. Over the past week, these whales have accumulated 410 million DOGE, bringing their total holdings to 22.54 billion DOGE. This increase in accumulation by large holders signifies confidence in the near-term potential of Dogecoin and reduces the circulating supply, potentially driving up prices. The recent spike in whale accumulation is due to the negative market value to realized value (MVRV) ratio of DOGE, indicating that the coin is undervalued. Negative MVRV ratios historically represent a buying signal as the asset may be due for a rebound. Another indicator, the Chaikin Money Flow (CMF), shows rising accumulation of DOGE. If the whales continue their accumulation, the price of Dogecoin could reach $0.48, but if selloffs resume, the price could fall to $0.29.



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