Dogecoin (DOGE) It has come under the spotlight, as cryptocurrency investors look to turn their attention to Above all is a meme coin. This development is expected to positively impact the meme coin, which has been delayed for a while now.
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Dogecoin whales accumulate 700 million doge
Cryptocurrency analyst Ali Martinez Revealed on X (formerly Twitter) mail DOGE whales have purchased more than 700 million DOGE ($112 million) in the past 72 hours. This forms part of a current trend where cryptocurrency investors are turning their attention to meme currencies.
Trading company QCP Capital Certain This trend in a recent market update, indicates that traders are “shifting their focus to higher beta tokens such as Shiba Inu (Shiba)And Dogecoin (DOGE). pepper (pepper). The trading company also claimed that these memes “rank in the top 10 for open interest” with Shiba Inu and Pepe posting double-digit gains in the past few days.
These investors are also believed to have accumulated DOGE in anticipation of imminent gains in the price of the first meme coin. Dogecoin has lagged compared to Top coins meme, which has achieved significant runs in the past seven days. This indicates that the meme coin is likely to take off soon enough.
Cryptocurrency expert Michael van de Poppe Dogecoin has been labeled a “safe bet this cycle” with the “coin fest” still ongoing with tokens like Dogwifhat. BONK, FLOKI, AND THE BOOK OF MEME (BOME) “WAKE UP INTENSE.” Van de Poppe also claimed that Dogecoin is the “easiest game ever” even though it has not moved yet.
at recent days Share XVan de Poppe once again claimed that Dogecoin is “a very easy game.” He expected the meme currency to record a massive breakthrough and It may be up to $1 In this market cycle.
at recent days Share XMartinez also suggested that an equivalent boom is on the horizon for Dogecoin. He stated that market sentiment towards Dogecoin is as bearish as it was in early February, before the memecoin's 200% price surge.
Why Dogecoin is one of the “Least Risky Trades”
Cryptocurrency Analyst Altcoin Sherpa Mentioned Dogecoin's rise to $0.40 is “one of the least risky trades.” This courseThe analyst explained the reasons for their belief. First, Altcoin Sherpa mentioned this Small investors You will eventually accumulate as much Dogecoin as possible, which will expose it to such a price rise.
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Secondly, the analyst pointed to the richest man in the world, Elon Musk and his passion For the meme coin he stated that “all it takes is one retarded Elon tweet to blow it up (Dogecoin).” The analyst added that Dogecoin has “high liquidity/low downside compared to other memes.”
Featured image from Getty Images, chart from TradingView