How Bullish Are Whales and Traders?

Is DOGE Poised for a Fresh Rally?



TL;DR

The cryptocurrency market revival in the past ten days or so has benefited certain assets more than others, with the leading meme coin being a prime example.
Dogecoin’s price rocketed to a two-month peak, while whales have started accumulating en masse, and large traders are opening sizeable longs.

Data shared by Ali Martinez shows that large DOGE holders have expanded their holdings by more than a billion coins within the span of just two days. To put this amount into a USD perspective, it’s valued at over $250 million at current prices.

This accumulation comes at a time when the OG meme coin’s price has gone through the roof. Recall that it traded at $0.19 on Tuesday, which was a crucial support line. After it bounced off it on a couple of occasions, DOGE went on a roll, shipping beyond $0.25 and reaching its highest price tag since the second week of May.

okex

Moreover, Dogecoin’s price has soared by more than 80% since its bottom on June 23 during the Israel-Iran war.

Aside from whales buying spot, large leverage players have also caught the move upward. Lookonchain reported that an anonymous whale closed a long DOGE position at the top yesterday, profiting more than $2 million. Later, they opened another one, worth over $21 million, going 10x long on the meme coin.

From a technical standpoint, analysts believe Dogecoin is poised for a surge to $0.36 or even $0.54, as long as it remains above the critical support level at $0.2.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

You have not selected any currency to display

Pin It on Pinterest

Crypto-Moon
Bybit
Crypto-Moon
Is DOGE Poised for a Fresh Rally?
okex
BTCC
Bitcoin Sell-off Puts Entire Altseason At Risk
Is Dogecoin Ready to Rally After 10% Drop?
This DOGE Price Signal Preceded a 340% Rally in 2024 and Now It’s Flashing Again
Bitcoin, Stocks And Altcoins Move Toward New Houses
Bit Origin Buys 40 Million Dogecoin As Part of Crypto Pivot
Dogecoin (DOGE) Price Pops Above Resistance—Targets $0.42 Next
Ledger
Bybit
Is Cango a Bitmain Proxy? Here’s What I Found
Russian Entities Using Kyrgyzstan’s Crypto Industry to Evade Sanctions: Report
Fintech will Adopt DeFi Lending within 3 years.
Three key factors that could drive RTX, ADA and LINK prices to new highs in 2025
Is Cango a Bitmain Proxy? Here’s What I Found
Russian Entities Using Kyrgyzstan’s Crypto Industry to Evade Sanctions: Report
Fintech will Adopt DeFi Lending within 3 years.
Three key factors that could drive RTX, ADA and LINK prices to new highs in 2025