• The millionaires of Dogecoin (DOGE) gathered 480 million DOGE within just two days, which was a sign of their muted confidence.
• The meme coin met with resistance at $0.1534, thereby testing the power of the recent buy-up.
• Although fear in the market is still a factor, the bulls will be the ones deciding the next crucial move.

Dogecoin sits in a market that is now thick with fear. Prices rise and fall like wild swings, leaving people unsure of what comes next. Yet in this chaos, a few men and women stay calm. They study the charts. They trust the numbers more than the noise. And when the moment comes, they act with purpose. The Dogecoin millionaires did exactly that.

Dogecoin Millionaires Make Their Move

The wallets containing from one million to one hundred million DOGE were very active within the last two days. They absorbed almost 480,000,000 DOGE, which is approximately $71.8 million, according to the on-chain data that the analyst Martinez has shared. They observed a wary market. They saw a public too scared to purchase. And they moved in.

The daily trading volume amounted to $1.26 billion, nonetheless, the extra DOGE still accounted for a very firm 5.69% of the turnover. This fact alone can sufficiently change the direction of the market, or at least divert it slightly. The traders did not use leverage. It was not shallow speculation. It was spot accumulation, actual coins, actual belief, and actual power behind every purchase.

Also Read: Dogecoin Gains Traction Amid Market Volatility, Could $0.57 Be Next?

Dogecoin Price Holds at Resistance

Within the span of two days, the price of Dogecoin increased by 2.5%, reaching a local peak of $0.1534. Yet, as soon as it reached the peak, it ceased to move.

The price found the 23-day moving average at that point, and the resistance was there again, showing its face. The halt was not unexpected. No market dynamics are in a straight line, and Dogecoin is not an exception either. The main thing is what occurs from this point onward.

The bulls have revealed their cards. They accumulated almost $500 million worth of DOGE while the rest of the market remained idle. However, the market did not give up that easily. Despite the strong buying support, DOGE is still fighting against resistance.

The candles for this week reveal an uncomplicated fact: the purchasers possess the future. In the event that the rich continue to invest heavily, the price might surpass the resistance. However, if they think twice, the currency might slide back to the state of uncertainty and fear that prevails in the general market.

Presently, Dogecoin is at a crossroad. It has been collected, observed, and waited for. Meanwhile, in the silent phases prior to the next price fluctuation, the bulls take deep breaths, confident that it is up to them to decide the next step.

Also Read: Dogecoin (DOGE) Surge Forecast: 14% Rise by Jan 1