Dogecoin

Elon

<p>Dogecoin is once again attracting the attention of large-scale investors. Despite a recent price drop, whales, these institutional investors or individuals owning large amounts of cryptos, have massively accumulated the memecoin. This strategic movement, supported by favorable technical indicators, suggests a significant rebound potential for this iconic meme currency.</p>
<h2 id="h-rapid-accumulation-of-crypto-by-whales">Rapid accumulation of crypto by whales</h2>
<p>According to data from the market intelligence platform IntoTheBlock, Dogecoin has recently recorded large transactions totaling $1 billion. These transactions indicate a strong interest from whales in this crypto. Contrary to what one might expect after <a href="https://www.cointribune.com/en/crypto-traders-are-abandoning-meme-coins-whats-happening/" target="_blank" rel="noopener noreferrer nofollow">a price drop</a>, these large-scale investors took advantage of the dip to buy more Dogecoin.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Net flows to exchanges have been negative over the past seven days, confirming that whales have been accumulating tokens rather than transferring them to platforms to sell. This buying behavior during the dip reflects a strong conviction in Dogecoin’s rebound potential. Furthermore, this massive accumulation by major Dogecoin holders could play a significant role in stabilizing and recovering the price, which has already begun to show signs of recovery.</p>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container video-container"><iframe title="DOGECOIN NEWS TODAY (DOGE WILL HIT $1 2025)" width="500" height="281" src="https://www.youtube.com/embed/kKVfW4yhWWE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
   </div>
  </div>
 </div>
</figure>
<h2 id="h-rebound-indicators-and-future-prospects">Rebound indicators and future prospects</h2>
<p>Besides whale accumulation, several technical indicators signal a rebound potential for Dogecoin. The market value to realized value (MVRV) ratio shows that the crypto is currently undervalued. Crypto analyst Kriss Pax <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-rapid-accumulation/" target="_blank" rel="noopener noreferrer nofollow">recently predicted</a> a significant price increase for Dogecoin, highlighting that the relative strength index (RSI) presents an optimistic configuration for the near future.</p>
<p>Pax recommends this moment as a buying opportunity, asserting that the memecoin should not drop below its current price levels. Meanwhile, Crypto Kaleo, another analyst, predicts that Dogecoin could reach 1 to 2 dollars in this bullish cycle. Kaleo bases his forecasts on historical trends, noting that Dogecoin has often experienced parabolic rises after periods of stagnation. He also mentions the possibility of a brief drop to $0.08, similar to the 30% correction that occurred in August 2020 before skyrocketing.</p>
<p>Finally, the growing dominance of altcoins in the market could <a href="https://www.cointribune.com/en/crypto-why-could-altcoins-soon-explode/" target="_blank" rel="noopener noreferrer nofollow">usher in an altcoin season</a>, during which Dogecoin is expected to benefit from a massive rally. Technical signals and the behavior of major investors indicate a strong probability of recovery and substantial gains for Elon Musk’s favorite crypto in the near future.</p>

Crypto: Here’s Why Dogecoin Could Bounce Back Dramatically

Table of Contents

Cointribune EN

Egyéb ezen a dátumon (2024. jún. 27.) megosztott cikkek

BREAKING: VanEck Files for First Solana ETF in the US – Will SOL Price Skyrocket?

Solana Memecoins Forecast: WIF Targets $3.050, BONK Aims at $0.00003390

Ethereum ETF Report from Galaxy Research! How Much Entry Is Expected in the First Months! Here ar...

Marathon Digital Mines $16M in Kaspa, Maintains 99% Focus on Bitcoin

Unveiling BlockDAG Reviews: ⭐⭐⭐⭐⭐- A Clear Winner in Crypto Presales

JUST IN: VanEck Solana (SOL) Applied for ETF!

Join our free newsletter for daily crypto updates!