According to data provided by whale watching platform WhaleStats, meme coin Dogecoin (DOGE) is back on the menu of BNB whales, with its price flirting at the historic $0.15 level. According to experts, whales typically prefer to accumulate at lows or during periods of consolidation. For details cryptocoin.com keep reading.
Dogecoin (DOGE) has managed to re-enter the whales’ menu
According to WhaleStats data, Dogecoin has made a comeback among the top 10 coins purchased by the largest Binance Smart Chain (BSC) wallets.
At the time the platform released the data, the top 1,000 BNB whales were holding 324,950,073 DOGE ($46,070,284). Dogecoin was also among the top 10 holdings of BNB whales and among the top 10 smart contracts used.
Dogecoin advances in the green zone in the market dominated by red
According to CoinMarketCap, Dogecoin is performing quite well, gaining 6.85% in the last 24 hours while the top 9 cryptocurrencies are in the red. At time of writing, the leading dog crypto is changing hands at $0.1544 after hitting intraday highs of $0.157.
According to crypto analyst Tomiwabold Olajide, there could be a bullish reversal as DOGE forms a candlestick on the daily chart when it touches the $0.14 support. The analyst notes that a crossing candle developed known as the ‘Doji’, indicating indecision between bears and bulls. Doji candles can indicate a reversal of the price direction when faced below the trends.
IT engineer Billy Markus or Shibetoshi Nakamoto, who co-founded the original meme cryptocurrency Dogecoin in 2013, emphasized the importance of the region near the $0.15 level at the beginning of February when talking about the Dogecoin price. Dogecoin co-founder tweeted “dog money flirting with ex-friend 15.” He also commented that dating, with an all-time high of $0.73, was rather short-lived. Analyst Tomiwabold Olajide states that the $0.157 level on the upside remains a major hurdle for the bulls to conquer if buying pressure builds.
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