Dogecoin

2024

Dogecoin (DOGE), a meme-inspired crypto, has recently experienced a significant surge in activity from large-scale investors, commonly known as “whales.” 
Recent <a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=all&amp;chart=all" target="_blank" rel="noopener nofollow">data</a> shows that the value of substantial transactions has nearly doubled in the last 24 hours. 
<h2 id="dogecoin-transactions-soar-as-etf-speculation-intensifies">Dogecoin Transactions Soar As ETF Speculation Intensifies</h2> 
According to data from IntoTheBlock, the value of <a href="https://www.newsbtc.com/news/did-a-dogecoin-whale-just-sink-the-doge-ship-the-30-million-transfer-mystery/" target="_blank" rel="noopener ">these large transactions</a> exceeding $100,000 has significantly increased within the past 24 hours. This dramatic increase saw the total value surge from $1.53 billion to roughly $3.01 billion. 
<img loading="lazy" decoding="async" src="https://i0.wp.com/u.today/sites/default/files/inline-images/dogecoin_1.png?resize=2320%2C724&amp;ssl=1" alt="Dogecoin Large Transaction Volume." width="2320" height="724" data-recalc-dims="1"> 
Concurrently, the volume of DOGE transferred by these whales expanded from 9.74 billion to 17.97 billion DOGE coins, indicating a marked uptick in investor engagement and movement within the Dogecoin <a href="https://www.newsbtc.com/analysis/doge/dogecoin-take-off-0-1540/" target="_blank" rel="noopener ">ecosystem</a>. 
This significant uptick in whale transactions coincides with mounting speculation in the crypto community regarding the potential approval of a Dogecoin ETF. 
The enthusiasm around a possible Ethereum ETF has sparked conversations about DOGE being the next cryptocurrency to have its exchange-traded fund. 
Amidst the rumors, a notable post by a crypto enthusiast, Vee, on X suggested that Dogecoin’s non-security status and widespread adoption make it an ideal candidate for an ETF. 
The post highlighted the dual-edged nature of traditional financial institutions’ interest in Dogecoin, ironically pointing out both the potential benefits and drawbacks. 
<blockquote class="twitter-tweet"> 
 a dogecoin etf would be amusing 
 — Shibetoshi Nakamoto (@BillyM2k) <a href="https://twitter.com/BillyM2k/status/1792998459878076625?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">May 21, 2024</a>
</blockquote> 
Billy Markus, a co-creator of Dogecoin, humorously commented on the speculation, noting that a Dogecoin ETF would be “amusing.” This sentiment reflects DOGE’s light-hearted origin but doesn’t detract from its serious investment potential, highlighted by recent market trends. 
Dogecoin is following the global crypto <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-breaks-out-above-0-153/" target="_blank" rel="noopener ">market’s uptrend</a>, with an 11.2% increase over the past week. However, in the last 24 hours, the increase has been a modest 0.7%, with the crypto trading at $0.168. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/GHRFIRyT/" alt="Dogecoin (DOGE) price chart on TradingView" width="2770" height="1496"> 
<h2 id="technical-analysis-of-doge-and-future-prospects">Technical Analysis Of DOGE And Future Prospects</h2> 
Analysts are watching Dogecoin closely. A prominent crypto analyst, Ali, noted that<a href="https://www.newsbtc.com/news/dogecoin/dogecoin-bulls-on-the-rise-analyst-highlight-path-to-0-2/" target="_blank" rel="noopener "> DOGE is nearing a critical</a> resistance level, suggesting potential upward movement soon. 
His observations are based on DOGE’s breakout from a descending triangle pattern, a sign that often indicates a shift toward bullish market behavior. 
<blockquote class="twitter-tweet"> 
 Now, in 2024, <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#DOGE</a> has yet again broken out of a descending triangle! 
 It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$DOGE</a> bull run! <a href="https://t.co/ZmuHmvIwei" target="_blank" rel="noopener nofollow">pic.twitter.com/ZmuHmvIwei</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1785808743709434096?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">May 1, 2024</a>
</blockquote> 
Another Crypto Daily Trade Signals analyst <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-forms-symmetrical-triangle-rally-on-the-horizon/" target="_blank" rel="noopener ">identified a symmetrical triangle pattern</a> in DOGE’s price movements, reinforcing the potential for continued growth. This analysis places immediate resistance near $0.15950; a mark DOGE has recently surpassed, pointing to further resistance at $0.16980 and $0.18440. 
Featured image from Dall-E, Chart from TradingView

Dogecoin Whales On The Move: Transactions Surge More Than 50% Amid ETF Speculation

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