{"id":629624,"date":"2024-07-13T16:30:55","date_gmt":"2024-07-13T16:30:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=629624"},"modified":"2024-07-13T10:00:33","modified_gmt":"2024-07-13T10:00:33","slug":"dogecoin-sees-868-spike-in-whale-buys-bulls-ready-for-breakout-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin-sees-868-spike-in-whale-buys-bulls-ready-for-breakout-rally\/","title":{"rendered":"Dogecoin Sees 868% Spike In Whale Buys, Bulls Ready For Breakout Rally"},"content":{"rendered":"

Dogecoin (DOGE) whales<\/span><\/a> are gearing up for a bullish reversal for the foremost meme coin. On-chain data shows that these whales have regained their confidence in <\/span>Dogecoin<\/span><\/a> and are accumulating more DOGE ahead of a potential rally for the meme coin.\u00a0<\/span><\/p>\n

Related Reading: 6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod<\/a><\/div>\n

Dogecoin Whale Accumulation Spikes By 868%<\/b><\/h2>\n

Data from the on-chain analytics platform <\/span>IntoTheBlock<\/span><\/a> shows that Dogecoin whales bought 364.38 million DOGE on July 10, representing an 868% surge from the previous day when these <\/span>large holders<\/span><\/a> offloaded 37.05 million DOGE. This accumulation trend continued on July 12 when these whales bought 114.71 million DOGE.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

These whales are believed to be accumulating Dogecoin ahead of a potential breakout rally for the foremost meme coin. DOGE looks well primed for such, especially with several on-chain metrics turning bullish for the meme coin. Data from IntoTheBlock shows that most holders are again in the money, meaning there is unlikely to be <\/span>significant selling pressure<\/span><\/a> going forward.\u00a0<\/span><\/p>\n

The \u2018In The Money\u2019 metric also shows that the $0.10 support level was a crucial support level that Dogecoin bulls needed to hold, which they did. A bullish reversal is likely at this point, with the bears looking worn out. Other metrics like the bid-ask volume imbalance and smart price also paint a bullish picture for Dogecoin.<\/span><\/p>\n

\"\"<\/p>\n

It is also worth mentioning that Dogecoin looks set for a breakout rally because of its strong <\/span>positive price correlation<\/span><\/a> with Bitcoin. With the flagship crypto making an impressive recovery and looking to reclaim $60,000, the foremost meme coin could also make a run of its own and rise to new highs.\u00a0<\/span><\/p>\n

Crypto analyst Kevin (formerly OG Yomi)<\/span><\/a> also <\/span>confirmed<\/span><\/a> that Dgecoin\u2019s rally will depend on Bitcoin\u2019s price movement from here. He stated that the meme coin should bounce from this level and \u201cattack the highs sooner rather than later\u201d once a continuation of a <\/span>bull market<\/span><\/a> is confirmed. The analyst had previously predicted that Dogecoin could rise to as high as $3 in this market cycle.\u00a0<\/span><\/p>\n

DOGE market cap currently at $15.8 billion. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Not Looking Good But About To Get Better\u00a0<\/b><\/h2>\n

Crypto analyst Altcoin Sherpa<\/span><\/a> recently <\/span>admitted<\/span><\/a> that things aren\u2019t looking too good for Dogecoin at the moment but added that the meme coin will do \u201cbig numbers\u201d later this year. The crypto analyst had previously predicted that the meme coin would eventually rise to $1 in this cycle and claimed that investing in Dogecoin was one of the \u201csafest bets\u201d anyone could make in <\/span>this bull run<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Is Altcoin Season Around the Corner? Bitcoin Halving Points to Potential Boom, Analyst Reveals<\/a><\/div>\n

Crypto analyst Andrew Kang also <\/span>recently made<\/span><\/a> a bullish case for Dogecoin, stating that meme coins like DOGE account for most altcoins that are likely to make new highs by the end of this year or the beginning of 2025. <\/span>Crypto analyst Crypto Kaleo<\/span><\/a> had also previously predicted that Dogecoin would enjoy a significant rally by December of this year or early next year.\u00a0<\/span><\/p>\n

Featured image from Reddit, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Dogecoin (DOGE) whales are gearing up for a bullish reversal for the foremost meme coin. On-chain data shows that these whales have regained their confidence in Dogecoin and are accumulating more DOGE ahead of a potential rally for the meme coin.\u00a0 Related Reading: 6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod Dogecoin Whale Accumulation Spikes By 868% Data from the on-chain analytics platform IntoTheBlock shows that Dogecoin whales bought 364.38 million DOGE on July 10, representing an 868% surge from the previous day when these large holders offloaded 37.05 million DOGE. This accumulation trend continued on July 12 when these whales bought 114.71 million DOGE.\u00a0 These whales are believed to be accumulating Dogecoin ahead of a potential breakout rally for the foremost meme coin. DOGE looks well primed for such, especially with several on-chain metrics turning bullish for the meme coin. Data from IntoTheBlock shows that most holders are again in the money, meaning there is unlikely to be significant selling pressure going forward.\u00a0 The \u2018In The Money\u2019 metric also shows that the $0.10 support level was a crucial support level that Dogecoin bulls needed to hold, which they did. A bullish reversal is likely at this point, with the bears looking worn out. Other metrics like the bid-ask volume imbalance and smart price also paint a bullish picture for Dogecoin. It is also worth mentioning that Dogecoin looks set for a breakout rally because of its strong positive price correlation with Bitcoin. With the flagship crypto making an impressive recovery and looking to reclaim $60,000, the foremost meme coin could also make a run of its own and rise to new highs.\u00a0 Crypto analyst Kevin (formerly OG Yomi) also confirmed that Dgecoin\u2019s rally will depend on Bitcoin\u2019s price movement from here. He stated that the meme coin should bounce from this level and \u201cattack the highs sooner rather than later\u201d once a continuation of a bull market is confirmed. The analyst had previously predicted that Dogecoin could rise to as high as $3 in this market cycle.\u00a0 Not Looking Good But About To Get Better\u00a0 Crypto analyst Altcoin Sherpa recently admitted that things aren\u2019t looking too good for Dogecoin at the moment but added that the meme coin will do \u201cbig numbers\u201d later this year. The crypto analyst had previously predicted that the meme coin would eventually rise to $1 in this cycle and claimed that investing in Dogecoin was one of the \u201csafest bets\u201d anyone could make in this bull run.\u00a0 Related Reading: Is Altcoin Season Around the Corner? Bitcoin Halving Points to Potential Boom, Analyst Reveals Crypto analyst Andrew Kang also recently made a bullish case for Dogecoin, stating that meme coins like DOGE account for most altcoins that are likely to make new highs by the end of this year or the beginning of 2025. Crypto analyst Crypto Kaleo had also previously predicted that Dogecoin would enjoy a significant rally by December of this year or early next year.\u00a0 Featured image from Reddit, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":629633,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1026,14690,1558,1785,7,83767,3504],"class_list":["post-629624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-blockchain-technology","tag-crypto-news","tag-cryptocurrency","tag-doge","tag-dogecoin","tag-meme-coins","tag-price"],"acf":[],"yoast_head":"\nDogecoin Sees Major 868% Spike In Whale Buys, Bulls Ready For Breakout Rally<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) whales are gearing up for a bullish reversal for the foremost meme coin. 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