1.4 Billion DOGE in 48 Hours – What’s Happening?

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As a seasoned crypto investor with a knack for spotting trends and a penchant for meme coins, I find myself intrigued by the recent Dogecoin (DOGE) developments. The influx of massive purchases by whales, as highlighted by Ali Martinez and Santiment, is a clear sign that big players are bullish on DOGE. In monetary terms, it’s like they’ve cashed in their retirement funds to buy up 1.4 billion meme coins!

crypto expert Ali Martinez recently posted a chart on Dogecoin, which was supplied by the analytics firm Santiment.

Through his actions, he helped circulate information about a significant portion of the popular meme cryptocurrency, Dogecoin, being absorbed in the market. As per the Santiment chart, an impressive 1.40 billion DOGE coins have been purchased by major crypto investors within just the past two days.

In fiat terms, they have scooped up approximately $140 million worth of those meme coins.

#Dogecoin whales bought over 1.40 billion $DOGE in the past 48 hours, worth around $140 million! — Ali (@ali_charts) September 26, 2024

Dogecoin looks to confirm bullish rally

In my recent exploration, I’ve observed some remarkable achievements by Dogecoin. As per the latest reports from U.Today, the digital coin has experienced a substantial spike in trading volume, surpassing the one billion dollar mark. Furthermore, the Open Interest (OI) in DOGE has seen a significant rise, climbing by 2.24% to reach an impressive figure of $530.78 million.

This morning, Ali Martinez posted a chart of DOGE from IntoTheBlock. The information indicates that the popular meme currency surpassed the crucial resistance level at $0.111 – a region where approximately 62,270 wallets hold over 36 billion Dogecoin. If DOGE continues to maintain this key level, it could signal a bullish breakthrough. At present, Martinez notes that “there are no significant supply barriers in the near future, suggesting that a climb towards $0.150 might be unobstructed!

As an analyst, I’ve observed that Dogecoin (DOGE) has successfully breached the resistance at $0.111, a level where approximately 62,270 wallets collectively hold over 36 billion DOGE. If this upward trend persists and DOGE manages to maintain this level, it could indicate a bullish breakout. With no significant barriers in the supply chain visible ahead, the route towards $0.150 appears unobstructed!— Ali (@ali_charts) September 26, 2024

Currently, the biggest meme crypto coin, as measured by its market cap, is being traded at approximately $0.1153, following a 5.7% increase over the last day.

Dogecoin founder makes important statement

This week, one of the two creators of Dogecoin, Billy Markus (also known as Shibetoshi Nakamoto online), hosted a question-and-answer session by responding to questions about cryptocurrency that were posted in the comments under a tweet he made.

In the post I recently came across, Markus firmly denied any claims suggesting he developed a new cryptocurrency since our collaboration on Dogecoin in 2013 with Jackson Palmer and Bells prior to that. He made it clear that he has no plans whatsoever to get involved with creating or working on any other digital currency in the future. To set the record straight, he asserted that any information suggesting otherwise is false.

In response to queries in the comment section, the individual known as Shibetoshi Nakamoto expressed that he has no intentions of developing any more meme-based cryptocurrencies. Additionally, he denied allegations linking him to the enigmatic figure of Bitcoin creator Satoshi Nakamoto.

Markus recently made another significant remark, specifically directed at the crypto community, regarding the Ethereum blockchain and tokens developed on it. He highlighted that any token claiming to have been created in 2013 is a clear falsehood because Ethereum was not established until 2015.

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2024-09-26 15:07