Big Money Returns To Dogecoin: Rally To $0.2 Already Programmed?
2023年11月24日 - 10:00PM
NEWSBTC
Dogecoin is trading in the green today, which is a reflection of
what on-chain data suggests maybe whales looking to propel the
crypto to a rally. Recent on-chain data shows that institutional
money might be returning to the meme token, as evident by the
number of Dogecoin wallets holding large amounts of DOGE
tokens. Institutional Interest In Dogecoin Data from the
crypto analytics platform IntoTheBlock has reiterated the current
bullish sentiment among Dogecoin whales. According to its large
transaction metric, the number of DOGE transactions worth $100,000
or more has been on a run since the middle of last month and
resumed a spike in the past week. Related Reading: Grayscale
Files Updated Spot ETF As Bitcoin Barrels Past $37,000 IntoTheBlock
puts the number of transactions worth $100,000 at 1,300 in the past
24 hours and a 7-day high of 1,770. This notable increase indicates
a growing interest in DOGE from institutional players and
large-scale investors, which brings more stability and less
volatility. This large transaction volume has been going on for a
while, as an earlier report noted large holders added more than $2
billion into DOGE throughout October and the first week of
November. Crypto Analyst Ali Martinez also shared a similar
sentiment for the translation of the metric’s data on social media.
According to him, the number of huge DOGE transactions has
consistently set new highs this month, which might suggest an
increased interest in DOGE from institutional players.
#Dogecoin | There’s a notable surge in $DOGE transactions exceeding
$100,000 in the past month, consistently hitting new highs. This
uptick suggests increased interest in #DOGE from institutional
players and whales, potentially gearing up for a significant price
spike. pic.twitter.com/UpxVkfu9hW — Ali (@ali_charts) November 23,
2023 Is A Spike Imminent? DOGE To $0.2? Large transactions are
something to keep an eye on, as they might indicate a significant
price spike if they are buy-ins. Similarly, on-chain analytics
platform Santiment recently shared an insight into what might be
another catalyst for the price of DOGE. Santiment reported that the
number of Dogecoin wallets holding over 1 million DOGE has spiked,
as 121 new wallets were created in the past month. At the same
time, the crypto recently had the largest spike in dormant DOGE
activity in June, as massive amounts of older DOGE moved out of
stagnant wallets. While this may be a sign of a selloff, Santiment
pointed out that this move often signaled a positive momentum.
Related Reading: Cardano Forecast: Crypto Analyst Identifies The
Event That Could Send ADA Price To $11 🐶 #Altcoins are back in the
green today, and data indicates there has been a massive amount of
older $DOGE moving out of stagnant wallets today. Keep an eye on
this, as well as the fact that 121 new 1M+ #Dogecoin wallets have
popped up in the past month. https://t.co/OjXvbTEEf9
pic.twitter.com/zHMyiqBI7c — Santiment (@santimentfeed) November
22, 2023 Despite all the whale buy-ins and large transactions since
October, DOGE has struggled to post high gains compared to other
altcoins. The crypto is down by 7.8% in the past week, although a
2.17% increase in the past 24 hours shows momentum might be
building. A price surge to $0.2 is still in the books for DOGE, and
all it needs is a major catalyst. The first hurdle to break would
be a strong footing above $0.08. DOGE is trading at $0.0776
at the time of writing. IntoTheBlock puts the number of addresses
still waiting for a profit at 557,560. On the other hand, a drop
below $0.6 could cast doubt on the weak optimistic outlook.
According to crypto analyst Alan Santana, this is poised to change
soon, as Dogecoin could break out in the next six months. DOGE
price records small gains | Source: DOGEUSD On Tradingview.com
Featured image from Finbold, chart from Tradingview.com
Dogecoin (COIN:DOGEUSD)
過去 株価チャート
から 6 2024 まで 7 2024
Dogecoin (COIN:DOGEUSD)
過去 株価チャート
から 7 2023 まで 7 2024