Dogecoin Gains Traction, Whales Hold Billions of DOGE at These Levels: Analyst
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Crypto trader and analyst Ali Martinez has taken to Twitter to share some important recent data on Dogecoin, as the original meme coin has begun to gain traction.
Important support and resistance levels for DOGE
Martinez shared the crucial levels of resistance and support for the largest meme coin by market cap (and the first one that was ever launched as a joke on Bitcoin). Currently, Dogecoin is changing hands at $0.0809.
Ali wrote that a key support level for the coin is $0.0075 – at this level, around 44,000 wallets are holding almost 34.38 billion DOGE. As for resistance, he named $0.086 as the strongest resistance level at the moment. Here, slightly fewer than 92,000 wallets are holding 13.11 billion Dogecoin.
Martinez used IntoTheBlock as the source of his data.
As #Dogecoin gains traction, note key levels of support and resistance! $DOGE support level is at $0.075, where 44K addresses hold nearly 34.40B coins. The most significant resistance area is at $0.086, with 92K addresses holding 13B #DOGE. pic.twitter.com/2mf3FzYMe6
— Ali (@ali_charts) March 2, 2023
After dropping to the $0.0796 low on Feb. 25, Dogecoin has begun to gradually rise. However, since then, after rebounding a little, DOGE has been jumping between the $0.0802 low line and the $0.0826 level, failing to break above it and go higher.
Alex DovbnyaRecent DOGE milestones
As reported by U.Today earlier this week, prominent meme token DOGE was finally added by major Filipino crypto exchange Coins.ph, its Coins Pro division. This is one of the oldest crypto trading platforms on the islands, which provides users with exposure to crypto-fiat trading pairs.
At the start of April last year, the platform was purchased by former CFO of Binance Wei Zhou.
In 2019 and 2021, DOGE was also listed by such crypto trading monsters as Binance and Coinbase.
Also, on Wednesday, U.Today reported that Dogecoin was added as the most recent payment option by Unstoppable Domains. This company sells to owners of crypto wallets replacements for lengthy addresses made up of symbols and Latin letters. It replace them with a short crypto-themed domain name extension that is easy to remember and cannot be censored or confiscated by government authorities.
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