Dogecoin Whales Pocket 1.40 Billion DOGE: 20 Cents Incoming?

It looks like the meme coin market was seeing notable activity. Dogecoin (DOGE) saw a major uptick in terms of whale activity. The surge in whale activity indicates that big investors are entering the market, which might lead to more volatility. It should be noted that whale transaction volumes often peak before possible big price moves. Whales often follow through on their large movements on DOGE, and the market does, too.

Also Read: Ethereum Unlikely To Hit ATH In 2024, 85% Polymarket Traders Bet Against It

According to prominent analyst Ali Martinez, Dogecoin whales went shopping over the past two days. The expert revealed that these whales purchased more than 1.40 billion DOGE tokens within a span of 48 hours. It should be noted that this was worth 140 million.

Source

Also Read: Bitcoin: BlackRock Buys $184 Million Worth Of BTC In One Day

How is Dogecoin Faring?

Whales often make big purchases when the price of an asset dips. On the contrary, DOGE was seen enjoying an uptick. Over the past week alone, the asset has surged by nearly 10%. At press time, the meme coin was trading at $0.114 with a 5% increase within a span of 24 hours.

It seems like Dogecoin whales were prepping for something big. While the market is betting on a potential spike to 20 cents, DOGE has other plans. According to data from Changelly, DOGE will most likely witness a downfall. The OG meme coin will be spending the last couple of days of September on a rather sad note. The asset will dip by around 1.42% to a low of $0.108089.

Source

It seems like DOGE investors will have to wait longer to reap the benefits of the meme coin.

Also Read: Can Bitcoin (BTC) Surge To A High of $80K In ‘Uptober’ Rally?

  • crypto
  • cryptocurrency
  • Dogecoin

Comments

Post a Comment

Popular posts from this blog

DeFi CEO Says ‘No One Cares’ to Deutsche Bank Entry into BTC Custody

Deutsche Bank to offer bitcoin custody solution for institutional clients. Cake Group CEO believes the move will not substantially increase capital inflow or attract new participants. Deutsche Bank’s Paul Maley projects the digital asset sector to grow to trillions of dollars. Julian Hosp, the CEO of DeFi business Cake Group, has shared a skeptical reaction to Deutsche Bank’s newly-launched bitcoin custody services for institutional clients. Responding to a post on X (Twitter) by Bitcoin Magazine announcing the bank’s new services, Hosp wrote “Sadly, no one cares”. In full, his response read, And guess what… sadly no one cares… because everyone in Germany can already buy #bitcoin either with an ETF (that has literally ZERO volume) or on an exchange. All these banks entering the space, are not bringing in extra money or people. They are just re-routing existing… https://t.co/MMZHSbGB9U — Dr. Julian Hosp (@julianhosp) September 15, 2023 T...
Read more

MATIC Price Plunges, Have the Bulls Finally Lost Control?

Image
MATIC witnessed a decline in bullish momentum and has lost hold of the $0.74 psychological support. Buying pressure was weak as the CMF hovered around the zero line. Traders might likely short/sell MATIC in the near term since the 50 EMA crossed over the 20 EMA. Polygon (MATIC) brief dip below $0.78 has turned out to be an event that has lasted a whopping five days. Over the last 24 hours, the altcoin had lost 2.32% of its value. But its last 30 days’ performance was controlled by the bulls where MATIC increased by 6.61%. Currently, the MATIC/USD 4-Hour chart shows that the altcoin was hovering around a tight support zone at $0.71. Due to decreased demand, MATIC’s buying strength has been cut off. This indicates bearish dominance around $0.72. For MATIC to regain bullish momentum, the price must rise above the $0.74 psychological level. But if selling pressure outweighs demand, then the recovery attempt could be quenched. Furthermore, bears have ...
Read more

Crypto Analyst: PEPE Will Outperform DOGE in Next Bull Cycle

Image
Miles Deutscher predicts PEPE will outperform DOGE in the next bull cycle. Deutscher noted that fewer PEPE holders are underwater compared to DOGE holders. PEPE has more multiples to reach its previous all-time high (ATH) compared to DOGE. PEPE will outperform DOGE in the next bull cycle, predicts Miles Deutscher, a renowned cryptocurrency analyst. In a Twitter post, Deutscher highlighted the reasons behind his prediction. I think $PEPE outperforms $DOGE next cycle. Why? • The Underwater Thesis: Less PEPE holders underwater vs DOGE, meaning less sell pressure on the way up + lower multiples to reach previous ATH (2.8x vs 12x). • People are more fatigued with the DOGE meme, Pepe feels fresher… — Miles Deutscher (@milesdeutscher) June 23, 2023 Deutscher’s first reason for supporting PEPE to outperform DOGE in the next cycle is what he called “The Underwater Thesis.” He noted fewer PEPE holders are “underwater” compared to DOGE holders. By that, he me...
Read more