Dogecoin

MN Coin

<p style="text-align: justify">The world’s largest memecoin, <a href="https://en.coin-turk.com/why-is-dogecoin-doge-rising-price-analysis-and-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a> (<a href="https://en.coin-turk.com/the-x-transformation-story-of-elon-musk-dogecoin-and-twitter-unexpected-results-for-doge-price/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>), has once again caught the attention of institutional investors and whales. At the time of writing this article, DOGE is trading at $0.07691 with a market cap of $10.9 billion, experiencing an increase of nearly 1% in the last 24 hours. Data suggests that the next target level for this giant memecoin, which has increased its value by more than 136 times since its inception, could be $0.1.</p>
<h2 style="text-align: justify" id="dogecoin-s-high-institutional-and-whale-interest">Dogecoin’s High Institutional and Whale Interest</h2>
<p style="text-align: justify">Dogecoin saw a significant increase in transactions surpassing $100,000 throughout last month and continuously reached new highs. Experienced cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">analyst</a> Ali Martinez reported that this notable increase indicates an increased interest in DOGE from institutional players and large-scale investors, also known as whales, leading to speculation of significant price increases in the short term.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-280427" src="https://coin-turk.com/wp-content/uploads/2023/11/Dogecoin-DOGE-Altcoin-Balina.jpeg" alt="" width="1136" height="1026"></p>
<p style="text-align: justify">A significant amount of old DOGE is currently being transferred from previously inactive wallet addresses, indicating a potential change in the price trajectory of this meme-inspired altcoin. This movement coincides with an increasing trend of creating wallet addresses holding over one million DOGE, indicating growing interest from significant investors.</p>
<p style="text-align: justify">On-chain analysis firm Santiment stated that this significant increase in transfers of old DOGE from inactive wallet addresses is a notable development in the market dynamics of the altcoin.</p>
<h2 style="text-align: justify" id="is-0-1-next-in-line-for-doge-price">Is $0.1 Next in Line for DOGE Price?</h2>
<p style="text-align: justify">DOGE’s ongoing rally could gain more momentum with increasing demand from new users, but bulls need to overcome the initial resistance at $0.080 to sustain this upward trend. Global In/Out of the Money (GIOM) data from IntoTheBlock, categorizing current DOGE investors based on their entry prices, also supports this analysis.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter wp-image-280428" src="https://coin-turk.com/wp-content/uploads/2023/11/Altcoin-DOGE.png" alt="" width="556" height="684"></p>
<p style="text-align: justify">The data reveals that 762,860 wallet addresses purchased 19.6 billion DOGE at a minimum price of $0.80. A significant sell-off by these investors could trigger a sudden drop in Dogecoin’s price, but breaking through the initial sell wall could pave the way for reclaiming $0.10.</p>
<p style="text-align: justify">On the contrary, a drop in price below $0.06 could disrupt the current bullish outlook. In such a scenario, support could come from 457,560 wallet addresses that purchased 30.8 billion DOGE at an average price of $0.067. If these investors choose to hold their positions, it could prevent a decline in Dogecoin’s price. However, an early sell-off by this group could cause Dogecoin’s price to drop to $0.06.</p> Continue Reading: <a href="https://en.coin-turk.com/dogecoin-attracts-high-institutional-and-whale-interest/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/dogecoin-attracts-high-institutional-and-whale-interest/</a>

Dogecoin Attracts High Institutional and Whale Interest

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