Dogecoin Whales (DOGE). They are back, highlighting the cryptocurrency market with a recent purchase of 1.4 million DOGE worth over $140 million. This massive purchase has caught the attention of the wider cryptocurrency community, raising the possibility of this happening A bullish turn for the popular meme coin.
Dogecoin whales harvest 1.4 million Dogecoins
new Reports Cryptocurrency analyst Ali Martinez confirmed via X (formerly Twitter) that Dogecoin whale activity is on the rise. Martinez revealed that a group of Dogecoin whales are showing renewed interest In the popular comic-themed meme coin, more than 1.4 billion DOGE tokens worth approximately $140 million have been purchased.
He shared a detailed chart highlighting the number of whale transactions in Dogecoin, which showed that $1.4 billion in new DOGE purchases took place in the past 72 hours. This sudden increase in whale activity underscores renewed investor interest Demand for Dogecoin.
At the beginning of the year Doji Experienced Strong whale activity, resulting in the regular accumulation of hundreds of millions of tokens. At that time, the meme currency emerged Taurus rally signs Having seen amazing price gains during favorable market conditions.
Now with DOGE showing similar bullish momentum after jumping more than 22% in the past month, according to CoinMarketCap, this popular coin could be… Poised for a strong rally. Recent change in price trends following Long period of declines This could be the catalyst that prompts Dogecoin whales to suddenly embark on a powerful accumulation spree.
Considering how most whale transactions can influence the market, it continues Increase in DOGE accumulation By these large-scale investors can significantly affect the value of the cryptocurrency. Currently, Dogecoin is open 24 hours a day Trading volume has increased By a huge percentage of 122.36%, which confirms the positive shift in investor sentiment towards the dog-themed meme currency.
DOGE price fundamentals remain strong
Amid increasing whale activity… Dogecoin price fundamentals remain strongas the meme currency has seen impressive growth recently. Data from CoinMarketCap reveals that Dogecoin price It recorded an impressive increase of 10.63% over the past 24 hours.
While the trigger behind this snap High prices It is still uncertain, and the cryptocurrency has also seen significant gains in the past week. DOGE saw its value rise by 14.05% in the past seven days, eventually pushing the price of the cryptocurrency to $0.121, as of the time of writing.
Martinez has too certain The price of Dogecoin appears “strong,” indicating that the meme coin has achieved great success Relative Strength Index (RSI) Prices break out of downward trends for several months. He also confirmed that Dogecoin is currently displaying a buy signal from its super trend indicator, suggesting that investors may be viewing the meme-based cryptocurrency in a positive light.
Featured image created with Dall.E, chart from Tradingview.com
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