Dogecoin

Rally

bullish

Rise

<p>As the crypto market experiences a recovery, it’s hard to overlook Dogecoin’s impressive performance. Within a week, DOGE jumped by 7.6%, proudly reaching $0.1085. But beyond this gain, whale activity and exchange flows indicate that something bigger might be brewing. Could it finally be the glory hour for this famous memecoin?</p>
<h2 id="h-whales-push-dogecoin-towards-a-potential-rally">Whales Push Dogecoin Towards a Potential Rally</h2>
<p>Dogecoin, <a href="https://www.cointribune.com/dogecoin-le-pionnier-des-memecoins-et-son-futur/" target="_blank" rel="noopener noreferrer nofollow">the pioneer of memecoins</a>, continues to make headlines, especially with <strong><a href="https://ambcrypto.com/dogecoin-update-exchange-flows-up-as-whales-hold-strong/?utm_source=coingecko&amp;utm_content=coingecko&amp;utm_campaign=coingecko&amp;utm_medium=coingecko&amp;utm_term=coingecko" target="_blank" rel="noopener noreferrer nofollow">a 10.5% increase</a> in its net exchange flows</strong>. This number, far from insignificant, often signals upcoming high volatility due to increasing supply and demand pressure. If history is any guide, <strong>such an increase may indicate a potential rise in DOGE’s price</strong>, which would explain investors’ enthusiasm.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitpanda.pxf.io/c/2801338/1295465/15871" target="_blank" rel="noopener noreferrer nofollow">Discover the Bitpanda platform</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<ul>
 <li>+10.5% net exchange flows;</li>
 <li>73% of holders in profit;</li>
 <li>57.86% of DOGE in the hands of large investors.</li>
</ul>
<p>Moreover, <strong>“whales” continue to accumulate, with over 57% of the supply controlled</strong> by these market heavyweights. As the saying goes, when the big ones eat, there’s a good chance the party starts for everyone!</p>
<h2 id="crypto-and-the-bet-of-large-investors">Crypto and the Bet of Large Investors</h2>
<p>It seems that Dogecoin has won the hearts of crypto whales, those investors holding more than $5 million in DOGE. With <strong>73% of holders currently in profit</strong>, the sentiment is clearly bullish for the memecoin. This could lead to increased investor confidence, as higher gains make buying more tempting for other market players.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:DOGEUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:DOGEUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/DOGEUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">DOGEUSD chart</span></a> by TradingView
 </div>
</div> 
<p>The domino effect is therefore not far off, especially as large investors are betting on a sustainable rally. <strong>It’s only a matter of time</strong> before DOGE reaches new highs, some would say. So, will Dogecoin break the $0.12 barrier? Time will tell, but the signals are there.</p>
<p>As a reminder, last week, Dogecoin <a href="https://www.cointribune.com/en/crypto-dogecoin-explodes-with-1-93-million-transactions-but-the-price-remains-stalled/" target="_blank" rel="noopener noreferrer nofollow">exploded with 1.93 million transactions</a>, but its price is still awaiting a definitive takeoff. However, optimism abounds.</p>

Crypto: Dogecoin Exchange Flows Rise By 10.5%, Rally On The Horizon?

Table of Contents

Cointribune EN

Other articles published on Sep 24, 2024

Bitcoin Climbs as Ellison’s Sentence is Announced

Binance Futures Launches LOKA Perpetual Contract to Enhance Trading Experience

Bybit Launches Islamic Crypto Accounts for Muslim Traders

Google Cloud, Solana Labs Launch GameShift for Web3 Gaming

Bitcoin Long-Term Holders’ On-Chain Activity Increases, Potential Sell Pressure Ahead

Kraken Expands European Footprint with Acquisition of BCM

Join our free newsletter for daily crypto updates!