#Crypto Market Rebound#  Is Dogecoin Ready for a Rise? Whale Movements Point to a Breakout.

Leading meme coin Dogecoin has seen a notable increase in interest from large investors over the past week, despite relatively stagnant price action.

DOGE is trading in a tight range and is showing no momentum to break out in either direction. However, with whale accumulation increasing, the altcoin could make a near-term upward move.

DOGE Sees 112% Whale Accumulation Increase Despite Price Stagnation

DOGE has seen a 112% increase in net flow from large investors over the past seven days.

Large investors are whale addresses that hold more than 0.1% of an asset’s circulating supply. Their net flow tracks the difference between the amount of coins they buy and the amount they sell in a given period.

When large investors’ net flow increases for an asset, the amount of coins/tokens entering their wallets is greater than the amount leaving. This trend suggests that these investors are accumulating DOGE despite the sluggish price performance, indicating confidence in its future value.

Furthermore, while DOGE’s price has largely remained unresponsive to improvements in overall market sentiment, futures traders continue to hold on to their faith. This is reflected in the sustained demand for long positions. The coin’s funding rate is currently at 0.0026%.

The funding rate is a periodic payment made between traders in perpetual futures contracts to keep the contract price in line with the spot price. When the funding rate is positive, there is a higher demand for long positions. This means that more traders are betting that the price of DOGE will rise.

Whale Accumulation Points to $0.175 Gain

If this whale accumulation trend continues and positive sentiment increases, DOGE could make a breakout towards $0.175. This move would mark a significant reversal from the recent price stagnation phase.

A break above this key price hurdle could open the door for a rally towards $0.206. However, if the buying pressure fades, the altcoin’s price could drop to $0.148 to retest the support level.