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Cryptocurrency News Articles
Dogecoin ($DOGE) Whales and Institutional Investors Are Positioning Themselves for a Potential Price Surge
Oct 07, 2024 at 05:15 pm
Activity among large Dogecoin ($DOGE) holders is ramping up, suggesting that institutional investors and major DOGE whales are positioning themselves
Dogecoin ($DOGE) is seeing increased activity among large holders, suggesting that institutional investors and major DOGE whales are positioning themselves for a potential price surge.
The volume of high-value transactions on the Dogecoin network has been rising steadily, a clear indication that big players are making their moves.
The number of large #Dogecoin transactions on the network continues rising, which suggests institutional players and $DOGE whales are positioning themselves for a potential upside move. pic.twitter.com/aTL6AXK9Hw
— Ali (@ali_charts) October 5, 2024
Moreover, notable DOGE holders have been ramping up their purchases, with over $128 million worth of the memecoin being acquired by large holders in the last 24 hours alone. This significant buying activity has been absent for a considerable amount of time, making this development noteworthy.
#DOGE whales are active🐋
Large holders of the DOGE coin have begun to sharply buy more at current levels. Over the past 24 hours, they have bought a total of $128 million.
It can be noted that such significant purchases have not been observed for a long time, and this may… pic.twitter.com/UaGbg1UjJD
— CRYPTO GEEK (@Crypto_geek___) October 5, 2024
As the U.S. elections approach, Dogecoin could be set for a substantial growth spurt. The memecoin has a strong cultural presence in America, not only as a crypto asset but also as a representative of the broader memecoin sector, which has been trending recently. This cultural relevance, combined with the recent whale activity, bodes well for DOGE's performance in the near term.
Considering these factors, we may see Dogecoin experience a notable price increase over the next month, as whales and institutional players continue to accumulate the asset en masse. The market momentum and the upcoming election may serve as a catalyst for DOGE to demonstrate strong upward dynamics.
This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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