Analysis: DOGE Establishes Key Support at $0.212, Whale Accrues Over 1 Billion Coins in Past Month

On May 18th, as per a report by CoinDesk, based on CoinDesk Research's technical analysis data model, DOGE established a crucial support at $0.212, and a rebound with high volume confirmed the interest of buyers. Over the past month, whale accounts have accumulated more than 1 billion DOGE, bringing their total holdings to 25.97 billion DOGE, suggesting that large investors are gearing up for a potential upward movement. Technical analysis indicates that DOGE formed a price range between $0.211 and $0.220 in the past 24 hours, validating the support area at $0.212. Analysts note that despite the ongoing macroeconomic headwinds, DOGE remains above key moving averages and has formed a potential bull flag pattern. If this is confirmed by sustained buying pressure, it could potentially drive the target price towards $0.35. Currently, retail futures trading activity is at a neutral level, indicating the potential for further growth before the market becomes overheated.