Dogecoin

Dogecoin (DOGE) whales, holding between 100 million to 1 billion coins, have been accumulating since May 28th. Santiment data reveals that these whales collectively purchased over $100 million worth of DOGE.<h2 id="header-0">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Chika-Moji-Airdrop.png?fit&#61;1920%2C1080&amp;ssl&#61;1" />As a result of this accumulation, the supply held by this group increased from 20.69% to 21.40%, as reflected in their address balances. This surge in buying activity <a href="https://cryptosheadlines.com/significant-1000-surge-in-shiba-inu-shib-burn-rate-suggests-potential-price-rebound/" rel="noopener noreferrer nofollow">suggests potential positive implications for DOGE’s price</a>.<h3 id="dogecoin-whales-accumulate-100m-potential-impact-on-price">Dogecoin Whales Accumulate $100M: Potential Impact on Price</h3>The <a href="https://cryptosheadlines.com/dogecoin-accumulation-ends-solana-sluggish-shiba-inus-debut/" rel="noopener noreferrer nofollow">accumulation by Dogecoin</a> (DOGE) whales, totaling over $100 million, signals increasing demand for the coin, potentially leading to a price increase. Currently, <a href="https://cryptosheadlines.com/doge-trading-volume-hits-milestone/" rel="noopener noreferrer nofollow">DOGE is trading</a> at $0.15, showing sideways movement over the past week.The uptick in whale accumulation suggests a possible shift in DOGE’s trajectory. If sustained, the cryptocurrency could break out, aiming to surpass $0.20 as it did in March.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/06/cryptosheadlines6.png?resize&#61;640%2C218&amp;ssl&#61;1" />Dogecoin-whale-accumulation. Source: Santiment<h2 id="header-1">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Chika-Moji-Airdrop-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" />However, for this bullish scenario to materialize, DOGE would need validation from other metrics. Successful alignment of these metrics could propel the price higher.Conversely, failure to validate these metrics might cause DOGE to decline to around $0.12.An increase in Mean Coin Age typically indicates movement of older coins between wallets, often suggesting distribution and potentially leading to lower prices.<h3 id="dogecoin-on-chain-metrics-and-price-potential">Dogecoin On-Chain Metrics and Price Potential</h3>From early April to May 29th, the 90-day Mean Coin Age (MCA) showed an increasing trend, indicating sell-offs by long-term holders that kept Dogecoin (DOGE) trading between $0.13 and $0.16.However, over the past three days, the MCA has been declining, currently at 49.08, suggesting more holders are opting for self-custody over exchanges.<a href="https://cryptosheadlines.com/litecoin-leads-cardano-by-12x-whats-happening/" rel="noopener noreferrer nofollow">Also Read: Litecoin Leads Cardano by 12x: What&#39;s Happening?</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/06/cryptosheadlines5.png?resize&#61;640%2C218&amp;ssl&#61;1" />Dogecoin-circulation-and-old-coins. Source: SantimentIf this trend continues in the coming weeks, it could potentially trigger a parabolic move favoring bullish sentiment for DOGE. Additionally, on-chain data indicates a decrease in the number of Dogecoins circulating, with one-day circulation at 357.04 million coins, suggesting reduced selling pressure.While low selling pressure doesn’t guarantee a breakout, combined signals from other metrics hint at a looming rally.Currently, 83% of Dogecoin holders are in profit, according to IntoTheBlock. This percentage could <a href="https://cryptosheadlines.com/meme-coins-on-the-rise-doge-bonk-and-more-reach-new-highs/" rel="noopener noreferrer nofollow">rise further once DOGE</a> begins its upward trajectory, possibly reaching 90% if or when a breakout occurs.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Dogecoin Whales Accumulate Over $100M Worth of DOGE: Will a Bull Run Follow?

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