Dogecoin with the rise in cryptocurrencies $0.410956 whale activity attracted attention again. According to market data on Friday, approximately 600 million Dogecoin was moved between unknown wallets. Additionally, whales purchased over 200 million tokens from exchanges during the day. This significant increase in whale movement created a positive sentiment among investors and traders for the DOGE price to rise.
Increase in Whale Activity
According to the latest data, 600 million tokens were transferred between two Dogecoin whales on January 17. In particular, in some transactions, $231.5 million worth of tokens were transferred through the addresses D78RZmm… and DQhgaR…, and this sparked market discussions.
Ali Martinez, a leading crypto analyst, stated that whales purchased over 200 million tokens in the last 24 hours.
“Increasing DOGE whale activity and increased buying paint an optimistic roadmap for future price movements of the meme cryptocurrency,” Martinez said.
DOGE Price Increase Expected
Currently, DOGE price is trading at $0.4103, up about 6%.
“Historical trends suggest that the next price increase could begin as early as next week.” -Martinez
If DOGE maintains the $0.40 level, it seems possible to reach the 2024 peak of $0.4837.
Although it is unknown whether Elon Musk’s DOGE initiative will provide significant support to the meme coin market during Trump’s presidency, price movements only look for excuses during bullish periods. Maybe DOGE can do this.
Reports around the world indicate that Elon Musk’s DOGE project has started hiring, which, along with whale movements, has increased market discussions. All of these dynamics reflect significant market optimism around the leading dog-themed meme cryptocurrency.
Market analysts believe that Dogecoin may experience a significant increase in price with increased whale activity and buyer volume. This offers investors promising signals about DOGE’s future performance.
While rising whale activities create a positive market sentiment for Dogecoin, investors take these movements into account in their investment decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
