Dogecoin Whales Scoop 220 Million DOGE In March Despite 25% Drop: What Do They Know?

Dogecoin's DOGE/USD recent downturn appears to have attracted big buyers, as whale accumulation surged and traders predict a bullish breakout.

Trader Notes: Crypto chart analyst Ali Martinez identified two key resistance levels at $0.18 and $0.21—if broken, they could ignite the next major rally.

Javon Marks pointed out that Dogecoin is forming higher lows, historically a precursor to price spikes. He maintains a bullish target of $0.6533, implying a 270% upside.

Trader Tardigrade predicts a J-shaped rebound, noting that Dogecoin has a history of rallying after accumulation phases before retracing.

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Statistics: Martinez noted Dogecoin whales having purchased more than 220 million DOGE in the month of March.

Coinglass data shows Dogecoin's long liquidations touched $1.26 million, the lowest level since March 23. Open interest increased 1.7% to $1.6 billion in a single day, signaling growing trader interest.

Community News: At a recent Town Hall in Wisconsin, Elon Musk dismissed rumors that the government is considering Dogecoin as a crypto payment option. He also clarified that the Department of Government Efficiency has no ties to DOGE.

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