A crypto analyst has predicted that Dogecoin’s price action will pump very hard soon if on-chain data is any indication. The number of active DOGE addresses increased from 41,557 to 114,662 within the past week, representing a 176% jump. Myles G. responded to the data by stating that Dogecoin will “pump hard soon,” linking the increase in active addresses to the possibility of a stronger price move ahead. Whales purchased approximately 470 million DOGE over the past 72 hours.
The chart attached to that post shows the amount of Dogecoin held by large holders climbing from March 12 to March 14. Technical analysis of the Dogecoin price action shows that strength is already building for the meme coin. All it needs is to hold above $0.105 before the end of the week. If history is any precedent, the increase in whale holdings could be the first step in a repricing to the upside.
The meme coin has been trading around $0.10. The most consequential development for the possibility of Dogecoin pumping hard is what appears to be coordinated accumulation by large wallet holders.
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