Dogecoin

The speculation around the FED rate cut potentially affects the overall market, and top cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Solana, and others, are moving in a sideways direction. Amid this, crypto whales are seeing the current situation as an opportunity and notably buying the tokens. According to data from the on-chain analytics firm Santiment, Dogecoin whales have purchased a significant 700 million DOGE tokens worth $112 million in the last three days. DOGE on buying spree adds 700 million tokens&nbsp; 
However, the same report is also shared by acrypto analyst and a prominent trader on X (previously Twitter). Despite the massive purchase, the price of DOGE and the rate of open interest remained stable, but there is a high chance that it could soon skyrocket. 
At the time of writing, DOGE is trading near $0.159, and in the last 24 hours, it experienced a 0.76% upside move, which is much lower compared to other <a href="https://news.todayq.com/shib-ldo-eth-scooped-by-whale-amid-price-dump/" rel="noopener noreferrer nofollow">meme coins</a> like WIF, PEPE, FLOKI, and BONK. Over a longer period, in the last seven days, the DOGE price remained stable and saw a 0.6% upside move. In the last 30 days, DOGE only experienced a 15% upside momentum.
This decent price surge in the last 30 days highlights the least interest from investors and traders in DOGE. This is also reflected in the 24-hour trading volume, which is down 22%. Dogecoin technical analysis and key levels 
According to expert technical analysis, Dogecoin is looking bullish and is currently located at an important level, which is trendline support and the 200 EMA (Exponential Moving Average). There are currently two possibilities: one bullish and one bearish. If DOGE on a 4-hour time frame gives a candle closing above $0.165, then in the coming days, we may see bullish momentum up to $0.175.
Conversely, if DOGE gives a 4-hour candle closing below the 200 EMA and $0.157, then we may see a massive fall in the price of DOGE.
Besides Dogecoin, meme coins like SHIB, WIF, FLOKI, BONK, and others are continuously gaining massive attention from crypto enthusiasts as they experience significant price surges. Ethereum-based meme coins have also experienced a notable price surge.

Crypto whales bullish on Dogecoin, adds 700M DOGE amid price dip

Todayq News

Ďalšie články zverejnené 31. 5. 2024

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