Dogecoin

2024

when

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 <p class="paragraph">Dogecoin (DOGE), known for its meme origins, has recently experienced a notable increase in activity from significant investors, often referred to as ‘whales.’&nbsp;</p>
 <p class="paragraph">According to data from <em>IntoTheBlock</em>, the value of substantial transactions has nearly doubled in the last 24 hours, reflecting heightened investor engagement.</p>
 <p class="paragraph">Data shows that the value of large Dogecoin transactions exceeding $100,000 has surged from $1.53 billion to about $3.01 billion within the last 24 hours. Simultaneously, the amount of DOGE moved by these whales rose from 9.74 billion to 17.97 billion DOGE.</p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="329" src="https://cdn.thebittimes.com/images/2024/05/24/fccd9310de87bff76eca4836067bb4d2.webp" alt="" class="wp-image-178083" srcset="https://cdn.thebittimes.com/images/2024/05/24/fccd9310de87bff76eca4836067bb4d2.webp 1024w, https://cdn.thebittimes.com/images/2024/05/24/fccd9310de87bff76eca4836067bb4d2.webp 300w, https://cdn.thebittimes.com/images/2024/05/24/fccd9310de87bff76eca4836067bb4d2.webp 768w, https://cdn.thebittimes.com/images/2024/05/24/fccd9310de87bff76eca4836067bb4d2.webp 1536w, https://cdn.thebittimes.com/images/2024/05/24/fccd9310de87bff76eca4836067bb4d2.webp 1891w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Large transactions Volume. Source: IntoTheBlock</em>
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 <p class="paragraph">In a surprising turn, a dormant Dogecoin <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a>, holding 893,303 DOGE (around $145,101), became active on May 22 after more than ten years of in<a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a>.&nbsp;</p>
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    <p lang="en" dir="ltr">A dormant address containing 893,303 #DOGE (147,524 USD) has just been activated after 10.4 years!https://t.co/iUi27LPA3b</p>— Whale Alert (@whale_alert) May 22, 2024
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 <p class="paragraph">The whale conducted its first transaction since May 2014, transferring 23,338 DOGE, worth approximately $4,000, to Binance, the largest cryptocurrency exchange globally.&nbsp;</p>
 <p class="paragraph">Despite this transfer, the whale still possesses 869,964 DOGE, valued at about $140,334</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="599" src="https://cdn.thebittimes.com/images/2024/05/24/2d2fcfff3a840868fe4b43ea0c38f49f.webp" alt="" class="wp-image-178084" srcset="https://cdn.thebittimes.com/images/2024/05/24/2d2fcfff3a840868fe4b43ea0c38f49f.webp 1024w, https://cdn.thebittimes.com/images/2024/05/24/2d2fcfff3a840868fe4b43ea0c38f49f.webp 300w, https://cdn.thebittimes.com/images/2024/05/24/2d2fcfff3a840868fe4b43ea0c38f49f.webp 768w, https://cdn.thebittimes.com/images/2024/05/24/2d2fcfff3a840868fe4b43ea0c38f49f.webp 1395w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Transaction details. Source: blockchair</em> <br>
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 <p class="paragraph">The reactivation of this long-dormant whale has raised concerns about its impact on Dogecoin’s price movement.&nbsp;</p>
 <p class="paragraph">Historically, when early cryptocurrency holders re-engage with the market, significant price fluctuations often follow. The recent transfer to Binance hints that the <a rel="noopener noreferrer nofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> might be considering selling some of its holdings.</p>
 <h2 class="wp-block-heading" id="h-historical-context-and-market-impact">Historical context and market impact</h2>
 <p class="paragraph">This recent reactivation is not an isolated incident. Earlier in May, another Dogecoin whale transferred $60 million worth of DOGE to Robinhood. Additionally, on May 21, Whale Alert reported a major transaction involving 600 million DOGE, valued at about $100 million, transferred between two unknown wallet addresses.</p>
 <p class="paragraph">The uptick in whale activity suggests growing interest and engagement among large investors, which could potentially influence DOGE’s market dynamics in the near future.</p>
 <h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="524" src="https://cdn.thebittimes.com/images/2024/05/24/b2010aaef03cb72e73a4af0b264512ff.webp" alt="" class="wp-image-178085" srcset="https://cdn.thebittimes.com/images/2024/05/24/b2010aaef03cb72e73a4af0b264512ff.webp 720w, https://cdn.thebittimes.com/images/2024/05/24/b2010aaef03cb72e73a4af0b264512ff.webp 300w" sizes="(max-width: 720px) 100vw, 720px">
  <figcaption class="wp-element-caption"><em>DOGE 7-day price chart. Source: Finbold</em> <br>
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 <p class="paragraph">Dogecoin (DOGE) is currently trading at $0.16, marking a 24-hour decrease of 3.24%. Despite this dip, <em>Coinglass</em> data indicates heightened investor interest, with DOGE’s open interest (OI) rising by 27.05% to $1.05 billion on May 22&nbsp; and trading volume surging to $3.73 billion.</p>
 <p class="paragraph">Analysts have identified a symmetrical triangle pattern in Dogecoin’s chart, presenting a key resistance at $0.1545. Support remains strong around $0.1513, bolstered by the 50-day exponential moving average (EMA).&nbsp;</p>
 <p class="paragraph">The current price above the 50 EMA signals a bullish bias, while the Relative Strength Index (RSI) above 50 supports a buying trend.</p>
 <p class="paragraph">Despite Dogecoin’s recent price dip, <a rel="noopener noreferrer nofollow" title="increase" href="https://thebittimes.com/tag/increase.html">increase</a>d investor <a rel="noopener noreferrer nofollow" title="activity" href="https://thebittimes.com/tag/activity.html">activity</a> and positive technical indicators suggest a potential upward trend. Investors should monitor for a breakout above the $0.1595 resistance level to confirm continued bullish momentum.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>:</em><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dormant-dogecoin-whale-stirs-after-a-decade-amid-increased-whale-activity-tbt89546.html">https://thebittimes.com/dormant-dogecoin-whale-stirs-after-a-decade-amid-increased-whale-activity-tbt89546.html</a></p>

Dormant Dogecoin whale stirs after a decade amid increased whale activity

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