Dogecoin is seeing a surge in activity, with big investors (known as whales) buying up more of the meme-based cryptocurrency.
Whales Are Loading Up
Over the past 24 hours, these whales have increased their holdings by a whopping 446.9 million DOGE tokens! This massive influx of DOGE into whale wallets suggests a strong belief in the future of the cryptocurrency.
Moving DOGE Off Exchanges
Interestingly, there’s also a trend of DOGE being withdrawn from cryptocurrency exchanges. This means people are taking their DOGE off exchanges and storing it in their own wallets, indicating a potential shift in market sentiment towards holding rather than selling.
Dogecoin Price On The Rise
Dogecoin’s price has been on an upward trend recently, breaking through a long-term downward trendline. This rally has pushed DOGE up by 15% from its recent low.
What’s Next for Dogecoin?
Analysts are predicting a potential price increase of over 100% if DOGE manages to break through a key resistance level. This could see DOGE reach a price of $0.22, with the potential for further gains to $0.6533 in the future.
While it’s impossible to predict the future of any cryptocurrency, the recent activity surrounding Dogecoin suggests a growing interest in the meme-based coin.
