Dogecoin Whale Activity Explodes 400% In 24 Hours As Large Players Buy DOGE At A ‘Discount’

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In the last 24 hours, there’s been a significant increase in large-scale investor interest in Dogecoin (DOGE), as they have bought massive quantities of tokens. This buying frenzy could signal an upcoming rally for Dogecoin, providing a potential bargain for ‘whales’ who think the meme coin is presently underpriced.

Dogecoin Whale Activity Skyrockets 400% 

Yesterday saw a massive 400% increase in whale-sized Dogecoin transactions, as reported by Santiment. This spike suggests that the number of substantial transactions, typically exceeding $100,000 and moving millions of DOGE tokens, has soared significantly above average levels.

Of particular note is the surge in whale transactions for Dogecoin, driven by major players taking advantage of what they perceive as reduced prices to accumulate DOGE. Backing this up, IntoTheBlock has released a corresponding report, underscoring an enormous rise in large transaction volumes of Dogecoin. The analytics platform indicates that the large transaction volume for Dogecoin exceeded $60.9 billion over the past 24 hours, implying growing engagement and activity from high-value institutional investors.

In his latest post on X (previously known as Twitter), crypto expert Ali Martinez disclosed that large investors or ‘whales’ bought around 140 million Dogecoin tokens on the previous day. He provided a Santiment chart, which demonstrated an escalation in whale activity by account holders with token balances ranging from 1 to 100 million. This chart suggests a significant increase in Dogecoin ownership by these large investors, especially as we approached January, which seems to align with the meme coin’s price rise.

At the present $0.39 value of Dogecoin, some big investors (whales) might see this as a chance to stockpile coins before a significant surge. Generally, an uptick in whale activity tends to come before a cryptocurrency’s price rise, as these major players can sway market trends due to their substantial holdings and influence.

Over the last few weeks, big Dogecoin investors (known as “whales”) have been actively buying up large quantities of DOGE tokens at lower prices. In just the past four days, these whales have bought over 1.08 billion DOGE tokens, indicating growing optimism about the meme coin’s future prospects. Additionally, with Dogecoin currently showing renewed vigor and signs of a comeback, many experts predict that a price surge might be imminent.

DOGE To Retest $0.41 To Claim New ATH

One cryptocurrency expert known as “The Cryptomist” on a particular platform has predicted that the popular meme coin, Dogecoin, might reach a new peak price above $0.75. The analyst points out that Dogecoin is getting close to a crucial resistance level at around $0.41. If this level is surpassed, it could lead to a strong surge in its value.

According to the market expert’s prediction, Dogecoin might challenge its all-time high (ATH) by undergoing a test along the resistance level of approximately $0.41. The analyst’s price chart indicates a supportive area around $0.3, which could help Dogecoin maintain its value during potential market corrections.

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2025-01-08 00:11