🐋💰 Dogecoin’s Deep Dive: Whales Hoard 460M in Cryptocurrency Frenzy

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In a twist of market fate, the titans of the digital ocean, known as whales, have seized upon the market’s momentary misfortune to engulf vast quantities of cryptocurrencies.

Among the digital tokens adored by the internet’s finest canines, Dogecoin, has found itself the object of affection from these aquatic behemoths. Crypto soothsayer Ali whispers from the digital depths, “Whales bought 460 million Dogecoin (DOGE) amidst the market’s latest splashdown.”

Whales bought 460 million #Dogecoin $DOGE in the recent price dip! 🐋💦

— Ali (@ali_charts) January 28, 2025

As the market took a plunge, Dogecoin found itself in the deep end, its value sinking to depths that only the bravest of long-term divers dare to explore. Bitcoin, the crypto leviathan, briefly submerged below the $99,000 mark as traders sought to bank their treasures before the first monetary policy committee convenes this year.

Following its brethren, Dogecoin took a dive, plummeting to the abyssal plain of $0.305, a continuation of its Sunday’s swim in the cooler waters. After reaching the surface at $0.434 on Jan. 18, the bulls attempted a valiant rescue, pushing Dogecoin back up to $0.401 on Jan. 21. Alas, the bears proved too strong, and the descent resumed.

The latest splash has left Dogecoin treading water below its moving average 50 at $0.3574, where it currently paddles in limbo. Should Dogecoin find the strength to breach this submerged milestone, it may once again find itself basking in the sunlight at $0.40, and perhaps even $0.43.

Should the current at $0.305 prove too strong, Dogecoin may find itself swept away to the frigid depths of $0.27, or even the icy reaches of $0.23.

What Lurks Beneath the Crypto Market’s Surface?

As if by magic, cryptocurrencies have begun to resurface in the early Tuesday trading, as investors hold their breath for the Federal Reserve’s monetary policy tea leaves. Dogecoin, ever the copycat, has managed to float up 6.47% in the last 24 hours to $0.334.

With bated breath, investors await the monetary policy tea party, set to transpire on Tuesday and Wednesday, where the Fed will reveal its latest hand. Yet hopes for a rate dive remain as likely as a fish riding a bicycle, with the Fed hinting at a mere two rate slashes for the year.

According to the CME Group’s FedWatch Tool, the odds of interest rates staying put are as high as a seagull in a hurricane – over 97%.

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2025-01-28 16:45