Dogecoin Accumulation Rises Amid Macroeconomic Headwinds

Dogecoin (DOGE) has recently declined to the $0.19–$0.22 range, attributed partly to global macroeconomic headwinds and reduced market participation. Despite increased selling pressure, technical patterns such as a bullish engulfing monthly candle, oversold RSI, and Spinning Top suggest a possible reversal, with institutional and whale investors accumulating hundreds of millions of DOGE during the downturn. Analysts note major resistance at $0.24–$0.25, with a breakout potentially leading to moves toward $0.30 or higher, and some projections even targeting all-time highs. On-chain indicators, including Net Unrealized Profit/Loss (NUPL) and MVRV ratios, show the market nearing an accumulation zone favorable for long-term buyers. Overall sentiment is cautiously optimistic, depending on DOGE's ability to reclaim key resistance and broader crypto market trends. Failure to maintain support could result in further downside before any recovery.