Activity among large Dogecoin ($DOGE) holders is ramping up, 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 steadily increasing, a clear sign that big players are making 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
Notable DOGE Holders Buys Over $128 Million Worth of $DOGE
In the last 24 hours alone, significant DOGE holders have bought up approximately $128 million worth of the popular memecoin. This sharp uptick in purchases has not been seen in quite some time and could be a strong indicator that these major investors are anticipating a forthcoming price rally.
#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
With the U.S. elections approaching, Dogecoin could see substantial growth. The memecoin has a strong cultural presence in America, not only as a crypto asset but as a symbol of the broader memecoin sector, which is currently trending. This cultural relevance, coupled with the recent rise in whale activity, paints a promising picture for DOGE’s near-term performance.
Given these factors, Dogecoin may be poised to experience a notable price increase over the next month, as whales and institutional players continue to accumulate the asset. The combination of market momentum and the impending election could serve as a catalyst for DOGE to demonstrate strong upward dynamics.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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