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DOGE Large households have increased their holdings of more than 1.7 billion DOGE units, but prices are still under pressure.
Dogecoin has once again attracted the attention of large investors. Chain data shows that large households have increased their holdings of more than 1.7 billion DOGE units, worth approximately 119 million US dollars. Although the price of the cryptocurrency is still below key technical levels such as the 50-day moving average and the 200-day moving average.
Major investors in falling prices continue to increase positions
Chain information shows that large investors known as "whales" are still increasing their positions even as Dogecoin fell 1.41% to US$0.06905 in the past 24 hours. X platform user @dogegod pointed out the buying wave, highlighting the scale of whale activity and its potential impact on the future direction of the market.
These transactions indicate that large players are confident in the long-term prospects of Dogecoin, as such purchases often reflect expectations of price recovery or value growth. Although a single-day increase in holdings does not confirm a reversal of long-term trends, it indicates that influential market participants are making strategic arrangements.
From a technical perspective, the trend of Dogecoin is still short and has not yet exceeded the 50-day moving average (US$0.07388) and 200-day moving average (US$0.09294). According to TradingView data, the Relative Strength Index (RSI) is close to 39, indicating weak price momentum but still above the oversold threshold of 30.
Large buying behavior during periods of weak prices often suggests that major holders still have long-term beliefs, while retail participation appears to be more cautious.
To form a stronger bullish signal, buyers need to push dogcoin prices above the key resistance level of the 50-day moving average. However, if it continues to fall below the US$0.069 support level, it may trigger further selling.
The derivatives market sends an uncertain signal
At the same time, CoinGlass derivatives data shows that open interest in dogcoin remains above US$1 billion, indicating that traders still hold large leveraged positions despite uncertain price movements.
Although open interest positions have remained stable, derivatives trading volumes have retreated from their highs at the end of July, suggesting that market participants may be waiting for a decisive catalyst before re-increasing exposure.
Liquidation data showed that the liquidation of long and short positions was relatively balanced, reflecting the lack of strong market consensus on the direction of short-term prices. Analysts believe this is not a clear bullish or bearish trend, but a sign of hesitation.
The increase in whale holdings is a positive signal on the chain, but prices still need to break through resistance to strengthen the bullish scenario.
Traders are paying close attention to the US$0.0739 resistance level, and a break through this point could signal new momentum. On the contrary, if it falls below the US$0.069 mark, downward pressure may be intensified.
Along with these technical and chain changes, multiple platforms are working to make traditional assets more accessible to cryptocurrency users. For example, 1stepSwap integrates major U.S. stocks, gold, silver and other physical assets directly onto the blockchain, allowing investors to instantly diversify their portfolios through their wallets and complete transactions at the most competitive rates on the market.
The recent wave of large-scale holdings in Dogecoin, combined with neutral derivatives signals, highlights that the market is in a period of high uncertainty and waiting for a clear price direction.
