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Dogecoin

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<p>Dogecoin, the largest memecoin globally, has regained attention from institutional investors. Currently, DOGE is trading at a 1.41% increase, reaching a price of $0.077, and boasting a market cap of $10.9 billion</p> 
<h3 id="dogecoin-institutional-interest">Dogecoin Institutional Interest</h3> 
<p>Dogecoin (DOGE) is experiencing a significant surge in transactions surpassing $100,000 over the last month, consistently reaching new highs. This notable increase indicates a growing interest in DOGE from institutional players and large-scale investors, raising speculation about a potential substantial price spike in the near future, reports popular analyst Ali Martinez.</p> 
<figure id="attachment_165829" aria-describedby="caption-attachment-165829" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-165829" src="https://coingape.com/wp-content/uploads/2023/11/Dogecoin-Whale-Transactions.jpeg" alt="" width="1136" height="1026" srcset="https://coingape.com/wp-content/uploads/2023/11/Dogecoin-Whale-Transactions.jpeg 1136w, https://coingape.com/wp-content/uploads/2023/11/Dogecoin-Whale-Transactions-300x271.jpeg 300w, https://coingape.com/wp-content/uploads/2023/11/Dogecoin-Whale-Transactions-768x694.jpeg 768w, https://coingape.com/wp-content/uploads/2023/11/Dogecoin-Whale-Transactions-150x135.jpeg 150w" sizes="(max-width: 1136px) 100vw, 1136px">
 <figcaption id="caption-attachment-165829" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://twitter.com/ali_charts/status/1727704876829098382" target="_blank">Ali Martinez</a>
 </figcaption>
</figure> 
<p>A substantial volume of older Dogecoin (DOGE) is currently being transferred from previously inactive wallets, indicating a potential shift in the price trajectory of the meme-inspired cryptocurrency.</p> 
<p>This movement occurs concurrently with a growing trend of the creation of wallets holding over one million DOGE, suggesting heightened interest from significant investors. Santiment, an on-chain analytics firm, highlights this notable surge in the transfer of older DOGE from dormant wallets as a noteworthy development in the cryptocurrency’s market dynamics.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f436.png" alt="🐶" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are back in the green today, and data indicates there has been a massive amount of older <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> moving out of stagnant wallets today. Keep an eye on this, as well as the fact that 121 new 1M+ <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> wallets have popped up in the past month. <a href="https://t.co/OjXvbTEEf9">https://t.co/OjXvbTEEf9</a> <a href="https://t.co/zHMyiqBI7c">pic.twitter.com/zHMyiqBI7c</a></p> 
 <p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1727394869193421035?ref_src=twsrc%5Etfw">November 22, 2023</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h3 id="will-the-doge-price-rally-to-0-1">Will the DOGE Price Rally to $0.1?</h3> 
<p>The ongoing DOGE rally may gain further momentum with increased demand from new users, but to sustain this upward trend, bulls need to overcome the initial resistance at $0.080. Global In/Out of the Money (GIOM) data from IntoTheBlock, categorizing current DOGE holders based on their entry prices, supports this analysis.</p> 
<p>The <a rel="nofollow" href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=financials&amp;chart=inAndOut" target="_blank">data</a> reveals that 762,860 addresses acquired 19.6 billion DOGE at a minimum price of $0.80. A significant exit by these investors could trigger an immediate correction in Dogecoin’s price. However, surpassing the initial sell-wall may pave the way for reclaiming $0.10.</p> 
<p>Conversely, a drop below $0.06 could undermine the optimistic outlook. In such a scenario, support may come from the 457,560 addresses that purchased 30.8 billion DOGE at the average price of $0.067. If these investors hold onto their positions, it could prevent a major Dogecoin price reversal. On the other hand, early selling by this group could potentially lead to a decline in Dogecoin’s price to $0.06.</p> 
<p>The post <a rel="nofollow" href="https://coingape.com/dogecoin-institutional-and-whale-interest-on-the-rise-doge-price-to-0-1/">Dogecoin Whale Activity on the Rise, DOGE Price to $0.1?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.</p>

Dogecoin Whale Activity on the Rise, DOGE Price to $0.1?

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