Accumulate

Dogecoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whales-accumulate-dogecoin-in-surprising-move/" data-wpel-link="internal">Whales Accumulate Dogecoin in Surprising Move</a> 
As an interesting development in the cryptocurrency market, <a href="https://coin-turk.com/unlu-analist-lark-davis-dogecoin-doge-yatirimcilarini-uyardi" data-wpel-link="internal">Dogecoin</a> (<a href="https://coin-turk.com/doge-artik-ciddiye-aliniyor-dogecoinde-onemli-destek-ve-direnc-seviyeleri" data-wpel-link="internal">DOGE</a>) has become a focal point of interest again following the emergence of large whale accumulations. The increase in whale accumulation has added optimism towards the largest <a href="https://en.coin-turk.com/pepe-coin-price-surge-followed-by-a-decline/" data-wpel-link="internal">memecoin</a>. 
<h2 style="text-align: justify" id="strong-whales-gathering-doge-from-robinhood-strong">Whales Gathering DOGE from Robinhood</h2> 
A platform that detects large movements on blockchains and shares them publicly, Whale Alert, has revealed a surprising whale accumulation of 276.21 million <a href="https://en.coin-turk.com/significant-dogecoin-transfer-detected-to-investment-platform-and-robinhood/" data-wpel-link="internal">DOGE</a> from the commission-free stock trading app Robinhood. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-320678" src="https://coin-turk.com/wp-content/uploads/2024/02/Dogecoin-Balina.png" alt="" width="802" height="504"> 
According to Whale Alert’s data, two significant whale transactions collected the mentioned amount of DOGE from Robinhood. In the first transaction, a whale-level wallet address starting with DEndn… purchased 172.89 million DOGE valued at $16.59 million, while in the second transaction, a whale-level wallet address starting with DGG1… bought 103.32 million DOGE valued at $9.87 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-320679" src="https://coin-turk.com/wp-content/uploads/2024/02/DOGE-Balina.png" alt="" width="805" height="518"> 
These large accumulations are particularly valuable as they typically reduce the circulating supply of DOGE. The timing of the accumulation coinciding with a period of price increase further boosts expectations for a <a href="https://en.coin-turk.com/why-is-doge-price-falling-the-latest-update-on-dogecoin-doge/" data-wpel-link="internal">Dogecoin</a> rally. 
On the other hand, data from Coinglass shows a significant increase of 15.06% in DOGE’s open interest, and a 191.73% increase in volume, indicating heightened market activity and new capital inflows. 
<h2 style="text-align: justify" id="strong-current-state-of-dogecoin-strong">Current State of Dogecoin</h2> 
According to data provided by CoinMarketCap, DOGE has risen by an impressive 7.28% in the last 24 hours, nearing the $0.10 threshold. As of the latest data, the price of DOGE is trading at $0.09871. Additionally, the market capitalization and the last 24-hour trading volume of the altcoin have also recorded significant increases of 7.71% and 146.81%, respectively. 
The current positive indicators point to a bullish market sentiment for Dogecoin and potentially set the stage for a bull run towards the $0.01 level in the short term. Moreover, speculations surrounding a possible collaboration between Dogecoin and the Italian luxury sports car manufacturer Ferrari also contribute to the positive outlook for the altcoin. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/whales-accumulate-dogecoin-in-surprising-move/" data-wpel-link="internal">Whales Accumulate Dogecoin in Surprising Move</a></h5>

Whales Accumulate Dogecoin in Surprising Move

Table of Contents

COINTURK NEWS

Other articles published on Feb 28, 2024

Ethereum’s Surge to 2024 High Excites Crypto Market

Kraken Launches New Division for Institutional Crypto Services

Could VeChain’s Major Announcement Spark a VET Bull Run?

El Salvador’s Bitcoin investment sees Potential 40% profit, Bukele refuses to sell

PEPE reclaims $1B market cap to lead memecoin season, but…

Will Bitcoin Hit Its Peak Before the Halving?

Join our free newsletter for daily crypto updates!