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Dogecoin price is stuck at a crucial resistance level and has formed a popular bullish pattern, signaling a potential breakout soon. A potential catalyst for the rebound is the fact that on-chain data points to whale accumulation. This article explores whether the DOGE price will rebound and the potential targets.
Dogecoin Price Could Surge as Whales Accumulate
On-chain data compiled by Santiment reveals that DOGE whales have accumulated the token in the past few months, undeterred by the ongoing crash. The data shows that the number of DOGE coins accumulated since January 2024 to today moved from 8.85 billion to 8.99 billion, or 140 million tokens.