New data published by the Santiment Chain Analysis platform and highlighted by the Ali Martinez market commentator reveal that the biggest Dogecoin investors have spent the last four weeks to expand their positions quietly while activity on the network is accelerating – all as the price of the same is set up to a reference technical ceiling.
Dogecoin Whales Fuel Momentum Haussier
Martinez underlines the segment of portfolios holding between 100 and 1 billion Doge – the cohort often described as “intermediate level whales”. Their combined balance amounted to approximately 24.6 billion Doge on April 13, but had climbed to just under 26.0 billion Doge by May 13, according to the gray area of the whale accumulation graphic.
The difference of approximately 1.4 billion DOGE – worth more than $ 300 million at dominant cash prices – confirms that large holders have absorbed the significant offer while the token has rallied. At the time of the snapshot, the cohort checked 25.97 billion Doge, although the value has already culminated at around 26.5 billion Doge on May 10.
The network activity seems to follow the money. A second health dashboard shows daily active addresses in the vault of the five-digit bass area in mid-April to peaks north of 680,000 on May 12 to 13, before ensuring 69,200 on the print in May 15.
The volume of transactions in US dollars reflected overvoltage, increasing $ 1.21 billion and still holding $ 549.96 million on the last reading. Perhaps the most revealing for the depth of the market, the number of individual transfers worth more than a million dollars – drawn into purple on the graph of Martinez – bloated during the same window, stressing that the overvoltage of activity is largely driven by transactions with large tickets rather than by detail.
The prices of the Doges are faced with a key resistance
While the flow of flows seems constructive, the price table maintains that the market remains at a critical moment. On the three -day candle graph shared by Martinez, Doge is negotiated at $ 0.2277 and learns in a power wall that caps the band between $ 0.24 and $ 0.26.
The horizontal area – shaded in gray – was a solid support throughout December 2024 and became resistance after the breakdown of mid -February. He has since produced several clean refusals, each marked by the arrows down of Martinez. Another attempted violation earlier this week has pierced the intraday group but failed to settle above, leaving the level intact.
If buyers oblige a decisive closure greater than $ 0.2600 per day, the graph shows a vacuum to the psychological handle of $ 0.3,000, according to a Martinez movement “could trigger a new Bull Run”. Conversely, the fact of not erasing the ceiling risks a swing towards the area of $ 0.1700 in the middle of the basic structure of April.
Taken together, chain accumulation, leap into important transactions and swell in addressing activity give fundamental support to the offer under Doge. That this request can exceed the well -defined barricade from $ 0.24 to $ 0.26 will determine whether the recent accumulation marks the opening salvo of a larger campaign up or simply another flurry linked to the beach. For the moment, the whales have made their bet; The market is waiting to see if the price will follow.
At the time of the press, DOGE exchanged $ 0.22.
Star image created with dall.e, tradingView.com graphic
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