530 Million Dogecoin in 72 Hours: What’s Happening?

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Hold onto your wallets, folks! 🐶💰 Dogecoin (DOGE), the cryptocurrency that’s basically the cute puppy of the financial world, just saw a jaw-dropping accumulation of 530 million coins in a mere 72 hours. That’s right, whales are diving deep into the Doge pool, and it’s not just for a refreshing swim! 🐋💦

According to our crypto oracle, Ali, these big fish are buying the dip like it’s a hot new dance move. They’ve scooped up more than 530 million DOGE coins while the rest of us are just trying to figure out how to buy groceries without crying. 😭🛒

Whales bought the dip, accumulating more than 530 million #Dogecoin $DOGE in the last 72 hours!

— Ali (@ali_charts) February 27, 2025

Meanwhile, the cryptocurrency market is experiencing a fresh sell-off, which is just a fancy way of saying, “Everyone panic!” Investors are clutching their pearls as they await the PCE report, which sounds like a fancy cocktail but is actually a key inflation reading. 🍹📉

Almost all cryptocurrencies in the top 100, except for stablecoins (because they’re the overachievers of the group), took a nosedive, with some losing up to 15%. It’s like watching your favorite reality show get canceled—devastating! 📺💔

Dogecoin itself fell more than 13% to an intraday low of $0.181, which is like watching your dog chase its tail and then trip over its own paws. 🐕💨 Weekly, Dogecoin is down about 27%, and it’s dropped 11% in the last 24 hours. Talk about a rough week! 😩

So far this week, Dogecoin has been down three out of five days, which is basically the cryptocurrency equivalent of a bad hair day. And let’s not forget Monday’s market crash, where Dogecoin fell beneath the daily SMA 200 support at $0.241. Ouch! 😬

Meme coins not securities, SEC says in new guidance

But wait, there’s a silver lining! The SEC has decided that meme coins are not securities but rather collectibles. So, if you’ve ever wanted to justify your Dogecoin obsession, now you can say you’re a collector! 🎨💸

In its statement, the SEC explained that buying meme coins isn’t like investing in a startup. Nope! It’s more like buying a Beanie Baby—your funds aren’t pooled together for some grand entrepreneurial scheme. They’re just floating around in the ether, like your hopes and dreams. 😅

And any expectation of profits? Well, that’s not derived from the efforts of others. Nope! The value of meme coins is based on speculative trading and the collective sentiment of the market, which is basically like trying to predict the weather in a tornado. 🌪️💭

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2025-02-28 17:37