Dogecoin

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 <p class="paragraph">Dogecoin (DOGE) whales have shown increased interest in the leading meme coin, accumulating the cryptocurrency in the past few days. In a week, these highly capitalized investors added over 1 billion DOGE to their stack, worth $157 million.</p>
 <p class="paragraph">Finbold retrieved this data from <em>Santiment</em> on June 4, filtering Dogecoin addresses holding between 100 million and 1 billion DOGE. Notably, the chart shows these whales currently hold 31.15 billion DOGE at $0.157 per Dogecoin.</p>
 <p class="paragraph">However, on May 27, the number was 30.10 billion, resulting in the bullish accumulation of 1.05 billion coins.</p>
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   Dogecoin whales – Addresses between 100M and 1B DOGE. Source: <em>Santiment</em> / Finbold (Vini Barbosa)
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 <p class="paragraph">Interestingly, a known cryptocurrency trader and on-chain analyst, <em>Ali Martinez</em>, spotted a similar behavior in the past few days. <em>Martinez</em> previously reported a 700 million DOGE accumulation from May 28 to May 31, worth $110 million. Later, the on-chain analyst reported a 200 million Dogecoin whale accumulation from May 30 to June 4.</p>
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    <p lang="en" dir="ltr">#Dogecoin whales have bought an additional 200 million $DOGE since May 30! pic.twitter.com/gjeoGWMM4R</p>— Ali (@ali_charts) June 4, 2024
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 <h2 class="wp-block-heading" id="h-dogecoin-doge-price-prediction-amid-whales-accumulation">Dogecoin (DOGE) price prediction amid whales’ accumulation</h2>
 <p class="paragraph">DOGE has nearly doubled its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> since February, when it was trading at around $0.085. At that time, Dogecoin had a similar trading and transaction volume to what it currently has, of around $864 million and $64 million, respectively.&nbsp;</p>
 <p class="paragraph">The gradual fall of these two metrics led to a period of accumulation, followed by the remarkable nearly 100% surge. Therefore, if this pattern plays out, the leading meme coin could experience another similar price action above $0.22—reached in March.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2024/06/04/36e10ac77a1e03c5469f0be9f46af1bd.webp" alt="" class="wp-image-180735" srcset="https://cdn.thebittimes.com/images/2024/06/04/36e10ac77a1e03c5469f0be9f46af1bd.webp 1024w, https://cdn.thebittimes.com/images/2024/06/04/36e10ac77a1e03c5469f0be9f46af1bd.webp 300w, https://cdn.thebittimes.com/images/2024/06/04/36e10ac77a1e03c5469f0be9f46af1bd.webp 768w, https://cdn.thebittimes.com/images/2024/06/04/36e10ac77a1e03c5469f0be9f46af1bd.webp 1536w, https://cdn.thebittimes.com/images/2024/06/04/36e10ac77a1e03c5469f0be9f46af1bd.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Dogecoin whales – Addresses between 100M and 1B DOGE. Source: <em>Santiment</em> / Finbold (Vini Barbosa)
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 <p class="paragraph">Furthermore, Ali Martinez addressed the 47% <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> drop from these highs to Dogecoin’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> in May. On May 1, the analyst posted a thread showing DOGE broke out from the descending triangle formed in this period.</p>
 <p class="paragraph">According to Martinez, this suggests another pattern previously seen in 2017 and 2021. Particularly, drops of 40% and 56% foreshadowed two massive pumps of 982% and 12,197% in each bull market, respectively.</p>
 <p class="paragraph">The trader believes this could propel DOGE to a first level at $1 and further to $6. Nevertheless, these <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s would mean $144 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> and $864 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> capitalization to Dogecoin, respectively, which are relatively high market caps.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Now, in 2024, #DOGE has yet again broken out of a descending triangle!<br><br>It is currently undergoing a 47% <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> correction, very similar to previous cycles, which could ignite the next $DOGE bull run! pic.twitter.com/ZmuHmvIwei</p>— Ali (@ali_charts) May 1, 2024
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 <p class="paragraph">In summary, Dogecoin whales have been signaling bullish intentions, accumulating 1 billion coins in the last week. Additionally, technical analysis projects DOGE above $1 per coin, but economic fundamentals may impose challenges to reach that mark.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><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/dogecoin-price-prediction-as-whales-add-1-billion-doge-in-a-week-tbt91263.html">https://thebittimes.com/dogecoin-price-prediction-as-whales-add-1-billion-doge-in-a-week-tbt91263.html</a></p>

Dogecoin price prediction as whales add 1 billion DOGE in a week

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