According to recent statistics, Dogecoin finally seems to be regaining its momentum: an increase of 3.3% in 24 hours and 18.5% in one week. This comeback can be explained by several favorable factors, including the resurgence of massive purchases by market “whales”. A recent transaction of 1.4 billion DOGE coins has attracted the attention of investors and could well reignite the bullish momentum of this crypto meme.
Dogecoin Whales: The big fish are resurfacing
Dogecoin whales, this memecoin currently experiencing a spectacular rise, are return in the crypto arena, and they did not come empty-handed. According to recent analyzes shared by Ali Martinez, a colossal transaction of 1.4 billion DOGE, or $140 millionwas completed in 72 hours. Just that.
These massive transactions obviously do not go unnoticed and reinforce hopes of a new rally for Dogecoin.
Whales are well known for their ability to influence crypto marketsand each large purchase pushes investors to closely monitor the development of DOGE. A 22% increase in price over the past month could well prove these large-scale investors right.
As the other would say, it is better to swim with the big fish rather than against the current.
- 122% increase in 24-hour trading volume;
- An increase of 10.63% in a single day;
- A price explosion up to $0.121.
Crypto DOGE: Towards a new rise?
Dogecoin fundamentals are strong today. DOGE, boosted by this wave of large-scale transactions, displays impressive performance. In addition to a spectacular rise of 14% in one week, Dogecoin also managed to break through significant technical resistancenotably a breakout of the RSI (Relative Strength Index).
To top it all off, the super trend indicator shows clear buying signalsconfirming the growing investor interest in this memecoin. And in this universe, a good indicator is worth a thousand words.
As Martinez sums it up so well“the market is sending strong buying signals such figures, DOGE could well surprise us in the coming days.” Altcoin enthusiasts have reason to rejoice!
In addition, Dogecoin miners, too, are playing their card in this bullish dynamic, which could lead to a real explosion of this memecoin.
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