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

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?

Whales Push Dogecoin Towards a Potential Rally

Dogecoin, the pioneer of memecoins, continues to make headlines, especially with a 10.5% increase in its net exchange flows. This number, far from insignificant, often signals upcoming high volatility due to increasing supply and demand pressure. If history is any guide, such an increase may indicate a potential rise in DOGE’s price, which would explain investors’ enthusiasm.

• +10.5% net exchange flows;
• 73% of holders in profit;
• 57.86% of DOGE in the hands of large investors.

Moreover, “whales” continue to accumulate, with over 57% of the supply controlled by these market heavyweights. As the saying goes, when the big ones eat, there’s a good chance the party starts for everyone!

Crypto and the Bet of Large Investors

It seems that Dogecoin has won the hearts of crypto whales, those investors holding more than $5 million in DOGE. With 73% of holders currently in profit, 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.

The domino effect is therefore not far off, especially as large investors are betting on a sustainable rally. It’s only a matter of time before DOGE reaches new highs, some would say. So, will Dogecoin break the $0.12 barrier? Time will tell, but the signals are there.

As a reminder, last week, Dogecoin exploded with 1.93 million transactions, but its price is still awaiting a definitive takeoff. However, optimism abounds.