Dogecoin Whales Buy Over 80 Million DOGE In 24 Hours – Sign Of Recovery?
Summary
Dogecoin has faced significant selling pressure recently, losing over 70% of its value since December due to global tensions and macroeconomic instability. The cryptocurrency is particularly affected by fears of a global recession and escalating trade disputes, leading to a broader market correction that has hit meme coins hard. Despite this, Dogecoin is attempting a recovery, testing key resistance levels. Recent on-chain data indicates that whales have purchased over 80 million DOGE in the last 24 hours, suggesting renewed optimism among major holders. This accumulation may signal a shift in momentum, although volatility remains high. The future trend of DOGE is uncertain, influenced by macroeconomic factors and investor sentiment.
