Dogecoin (DOGE), the world’s largest and most popular meme coin, is catching the attention of crypto whales and investors due to its attractive price range. Data from the on-chain analytics firm Santiment shows that crypto whales have purchased a significant 150 million DOGE in the past three days.
Crypto Whales Buy 150 Million DOGE
This substantial purchase occurred while DOGE was consolidating near a crucial support level of $0.185. Additionally, it indicates that whales and investors are capitalizing on the current market sentiment and bearish price action to accumulate the token, despite concerns about further price declines.
Whales bought 150 million #Dogecoin $DOGE in the last 72 hours! pic.twitter.com/YRtujig2BO
— Ali (@ali_charts) March 6, 2025
Current Price Momentum
DOGE is currently trading at $0.19 and has experienced a price drop of over 8% in the past 24 hours. During the same period, its trading volume surged by 50%, indicating heightened participation from traders and investors and reflecting the community’s bullish outlook.
Dogecoin (DOGE) Technical Analysis and Upcoming Level
According to CoinPedia’s technical analysis, DOGE is consolidating within a tight range and is currently at a crucial support level of $0.185. Based on recent price action and historical momentum, if it breaks out of consolidation and closes a daily candle above $0.21, there is a strong possibility that the meme coin could surge by 20% to reach $0.25 in the coming days.
Additionally, DOGE’s Relative Strength Index (RSI) is near 35, indicating weak momentum, which could be a key factor behind the meme coin’s ongoing struggle.
$43 Million Worth of DOGE Outflow
Another factor gaining attention among crypto enthusiasts is the ongoing outflow of DOGE tokens from exchanges. Data from the on-chain analytics firm Coinglass reveals that exchanges have witnessed consistent outflows since the beginning of February 2025, suggesting potential accumulation by long-term holders and investors.
Additionally, the data shows that exchanges have seen $43 million worth of DOGE outflows in the past 48 hours, indicating further accumulation, which could support the meme coin’s recovery soon.
When combining all these on-chain metrics with the technical analysis, it appears that investors are bullish on the meme coin but in a shorter period, the market may see some more correction.
