#binance #hype #zec #near
02/05/26 08:22 UTC-04

Santiment: Dogecoin Whale Activity Reaches a Six‑Month High

Cryptocurrency Cryptocurrency
Cryptocurrency Santiment: Dogecoin Whale Activity Reaches a Six‑Month High
  • According to Santiment, the number of large Dogecoin transfers exceeding $100,000 reached 739 transactions in a single day.
  • Large wallets holding at least 100 million $DOGE now control a record 108.52 billion tokens.
  • The RSI for $DOGE has moved above 70 as the price approached a key resistance zone, increasing the likelihood of a short‑term pullback.

On‑chain data from Santiment revealed a sharp rise in large Dogecoin transactions. Within a single day, the network recorded 739 transfers valued above $100,000. Major holders now control 108.52 billion $DOGE, marking an all‑time high concentration.

Analysts noted that the memecoin’s 14% price increase over the last 10 days is unlikely to be coincidental.

The Relative Strength Index (RSI) on the daily chart climbed above 70. This level often indicates overbought conditions. A current reading near 73 reflects strong buying pressure but also raises the probability of a short‑term correction.

Since mid‑April, the RSI trend has steadily increased, suggesting sustained demand. However, extended periods at elevated RSI levels may lead to a price retracement. Traders typically monitor this area closely for early signs of a reversal.

In addition, the MACD indicator remains in positive territory. Both the signal line and MACD line continue trending upward, reinforcing the persistence of bullish momentum in the near term. Price action indicates that Dogecoin is approaching a significant resistance zone around $0.11.

As of May 1, $DOGE trades near $0.1092, posting a daily gain of 2.1% and a weekly increase of 11.2%.

See also: "Bitcoin above $78,000: ETF inflows deliver best month in a year"

#Price Increase #Dogecoin (DOGE) #record

Editor: Yulia Krasnaya
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