Dogecoin Whales Record Largest Accumulation Week Since January With 2.10 Billion Tokens Bought 🐕
Dogecoin has made headlines as whales amassed over 2.1 billion DOGE tokens, the largest accumulation seen since January 2024. This activity reflects renewed interest and confidence in the meme coin among key investors.
Data from IntoTheBlock highlights that Dogecoin addresses with large holdings acquired these tokens within a week, displaying significant market activity from whales. In the past seven days, approximately 16.24 billion DOGE worth $2.76 billion was moved, including 8.53 billion tokens transferred in 24 hours.
These transactions have occurred alongside a 6.01% rise in Dogecoin's price over the past week. Large-scale investors are often seen as indicators of market sentiment, suggesting optimism for Dogecoin’s future performance and potential continued price increase.
Additionally, DOGE's market cap has risen to $22.12 billion, making it the 8th largest cryptocurrency. Trade volume has surged by 30.95%, reinforcing its growing popularity.
Technical analysis by Ali Martinez shows that the TD Sequential tool has flashed a buy signal, predicting an upward trend for Dogecoin. If it holds above the $0.141 support, it could rebound to $0.162.
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