Boost

Dogecoin

Elon Musk

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">With the market dip taking a different toll on different digital currencies, Dogecoin (DOGE) appears to be plotting a strategic way to sustain its current bullish recovery. The digital currency is changing hands for $0.1356, up by 7.19% in the past 24 hours, per data from CoinMarketCap. Current whale volume data from IntoTheBlock (ITB)&nbsp;<a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=financials&amp;chart=largeTransactions" rel="noopener noreferrer nofollow">shows renewed</a> interest that can spark DOGE's parabolic run in the midterm.</p>
<h2 id="dogecoin-whales-back-in-full-swing">Dogecoin whales back in full swing</h2>
<p dir="ltr">With the latest bouts of liquidations, the crypto market has suffered and the Dogecoin price has plunged as low as $0.12, with a 21.23% slump in the trailing seven-day period. With some of the most viable metrics pointing to a bearish setting, the 92.81% uptick in whale transaction volume per ITB data marks a good omen for the coin.</p>
<p dir="ltr"><a href="https://u.today/dogecoin-doge-ticks-past-massive-5-billion-in-large-transactions-as-price-dips" rel="noopener noreferrer nofollow">Whale transactions</a> feature those with a dollar valuation of $100,000 or more. The data shows that approximately $5.29 billion worth of these has been traded in 24 hours. The expanded data revealed that the number of large transactions comes in at 4,330 at a DOGE price of $0.1657, up from 2,590 as of March 3, with the price relatively lower at $0.14.</p>
<p dir="ltr">This obvious embrace as prices soar marks a vote of confidence within the network, a trend that appears visible in the price of the industry’s largest meme coin.</p>
<h2 id="how-great-can-doge-soar">How great can DOGE soar</h2>
<p dir="ltr">Setting a major target for the Dogecoin price has proven to be quite difficult considering the absence of key fundamentals that can complement the current uptick. Nonetheless, the correlation with Bitcoin, the enthusiastic community and the&nbsp;<a href="https://u.today/elon-musk-triggers-reaction-from-xrp-and-dogecoin-community-with-intriguing-tweet" rel="noopener noreferrer nofollow">influence of Elon Musk</a> might help sway Dogecoin in the near future.</p>
<p dir="ltr">Having soared as high as $0.2054, Dogecoin may retest this price point in the short term, while making a play for&nbsp;<a href="https://u.today/dogecoin-to-1-top-trader-believes-its-no-longer-just-meme" rel="noopener noreferrer nofollow">the $1 level in the longer term</a>.</p>

Dogecoin (DOGE) 96% Whale Volume Boost Hints Something Big Is Coming

Table of Contents

U_Today

Other articles published on Mar 20, 2024

North Carolina Leads Technology and AI Transformation

Polkadot (DOT) Must Reclaim This Price to Continue Upward Rally; Upcoming Token Burn Event Streng...

Crypto Prices Today March 20: Bitcoin Drops To $61K, Ethereum Below $3200, PEPE & TIA Gain

Cryptocurrency Market Trends: Analyzing the Surge and Predictions for Digital Coins

Bitcoin Faces Uncertainty Before Fourth Block Reward Halving

Ethereum Foundation Under Investigation

Join our free newsletter for daily crypto updates!