Dogecoin Whales Reactivate Transactions With 1.4 Billion In Crypto

According to recent statistics, Dogecoin finally seems to be catching its breath: a 3.3% increase in 24 hours and 18.5% in a week. This resurgence can be attributed to several favorable factors, including the reemergence of massive purchases by market “whales.” A recent transaction of 1.4 billion DOGE coins caught investors’ attention and could well reignite the bullish momentum of this meme crypto.

Dogecoin Whales: The Big Fish Resurface

The Dogecoin whales, this memecoin currently experiencing a spectacular rise, are back in the crypto arena, and they haven’t come empty-handed. According to recent analyses shared by Ali Martinez, a colossal transaction of 1.4 billion DOGE, or 140 million dollars, was executed within 72 hours. That’s quite something.

#Dogecoin whales bought over 1.40 billion $DOGE in the past 48 hours, worth around $140 million! pic.twitter.com/mBXMti2y3V

— Ali (@ali_charts) September 26, 2024

These massive transactions obviously do not go unnoticed and bolster hopes for a new rally for Dogecoin.

Whales are well known for their ability to influence crypto markets, and each large purchase prompts investors to closely monitor the evolution of DOGE. A 22% price increase over the past month could well validate these large-scale investors.

As the saying goes, it’s better to swim with the big fish than against the current.

• 122% increase in trading volume over 24 hours;
• A 10.63% rise in just one day;
• An explosive price increase to $0.121.

Crypto DOGE: Toward a New Ascent?

Dogecoin’s fundamentals are solid today. DOGE, boosted by this wave of large-scale transactions, is showing impressive performance. In addition to a spectacular 14% increase in one week, Dogecoin has also managed to break through important technical resistances, notably an RSI (Relative Strength Index) breakout.

To top it all off, the super trend indicator shows clear buy signals, confirming the growing interest of investors in this memecoin. And in this universe, a good indicator is worth more than a long speech.

As Martinez aptly sums it up, “the market is sending strong buy signals of such figures, DOGE could well surprise us in the coming days.” Altcoin enthusiasts have reason to be excited!

Additionally, the Dogecoin miners, are also playing their part in this bullish dynamic, which could lead to a true explosion of this memecoin.