{"id":559863,"date":"2023-11-09T16:00:48","date_gmt":"2023-11-09T16:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=559863"},"modified":"2023-11-09T08:42:02","modified_gmt":"2023-11-09T08:42:02","slug":"take-off-dogecoin-whales-doge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/take-off-dogecoin-whales-doge\/","title":{"rendered":"Prepare For Take-Off: Dogecoin Whales Have Injected $2 Billion Into DOGE"},"content":{"rendered":"

Dogecoin finally <\/span>broke over $0.76<\/span><\/a> in the last 24 hours after a week of range trading and has emerged as a <\/span>formidable performer<\/span><\/a> in the past month. The crypto has seen gains of 25.9% in a 30-day timeframe, but the rally may be far from over.<\/span><\/p>\n

DOGE whales have been working tirelessly behind the scenes to put the meme coin on the map, increasing their holdings by a substantial amount in the past month. On-chain data has revealed that large DOGE addresses have added more than $2 billion in DOGE in an effort to drive the crypto towards the $0.1 level.<\/span><\/p>\n

Dogecoin Whales Inject $2 Billion Into DOGE In 30 Days<\/h2>\n

Data from the crypto analytics platform IntoTheBlock has reiterated the current bullish sentiment among Dogecoin whales. According to its Balance By Holdings metric, the balance of addresses holding between $100,000 to $1 million worth of DOGE has increased by 24.31% in the past 30 days.<\/span><\/p>\n

Related Reading: Crypto Analyst Says XRP Price Will Take Off In One Week, Here\u2019s The Target<\/a><\/div>\n

Likewise, addresses holding between $1 million to $10 million increased by 27.43%, and addresses holding more than $10 million worth of DOGE increased by 29.28%.\u00a0<\/span><\/p>\n

A closer look into this metric’s chart shows that the collective holdings of these addresses holding at least $100,000 worth of DOGE increased from $7.37 billion on October 7 to $9.469 billion on November 9. This implies that the crypto\u2019s whales have acquired an additional $2.099 billion in DOGE within the past month.<\/span><\/p>\n

\"Dogecoin\r\nSource: IntoTheBlock<\/pre>\n
For regular investors, this whale activity is a bullish signal for DOGE’s price trajectory, as whale accumulation is still ongoing. IntoTheBlock’s data has also revealed these addresses holding at least $100,000 worth of DOGE have acquired $119 million in DOGE in the past 24 hours alone.\u00a0<\/span><\/p>\n
IntoTheBlock’s Order Books metrics reveal an interesting imbalance between the supply and demand for DOGE. At the time of writing, buyers have placed buy orders of 902 million DOGE on various crypto exchanges. Meanwhile, sellers have only put up 876 million DOGE for sale.<\/span><\/p>\n
\"DogecoinSource: IntoTheBlock\r\n\r\n<\/pre>\n
Will DOGE Return To $0.1?<\/h2>\n
The current shift towards higher demand and the current accumulation of whales speaks volumes of the current sentiment around Dogecoin and the massive injection of capital into Dogecoin could significantly <\/span>impact its price<\/span><\/a>.\u00a0<\/span><\/p>\n
Crypto analyst Ali Martinez pointed out on X that DOGE’s crucial support wall at the $0.072 to $0.073 price point outstrips the resistance in strength. According to Martinez, a breakout over $0.76 puts the next significant hurdle at $0.084.\u00a0<\/span><\/p>\n
Related Reading: Cardano Whales Go On $600 Million Buying Spree That Could Trigger Run To $0.4<\/a><\/div>\n
\n
#Dogecoin<\/a> is navigating a tight zone, sandwiched by two crucial supply walls.<\/p>\n
\ud83d\udcc9 Support Wall: Spanning $0.072-$0.073, with 200K addresses holding 28.6B $DOGE<\/a>.
\n\ud83d\udcc8 Resistance Wall: Ranging from $0.074-$0.076, where 124K addresses hold 26.95B #DOGE<\/a>.<\/p>\n
Note that support outstrips\u2026 pic.twitter.com\/O5FRIJ1SIl<\/a><\/p>\n
\u2014 Ali (@ali_charts) November 8, 2023<\/a><\/p><\/blockquote>\n
At the time of writing, the bulls have pushed DOGE by 4.28% in the past 24 hours, and the crypto is now trading at $0.07686. Continued buying pressure from the whales and retail traders <\/span>could push DOGE back up<\/span><\/a> to $0.1, which <\/span>we haven’t seen since June<\/span><\/a>.<\/span><\/p>\n
\"Dogecoin<\/p>\n
DOGE price reclaims $0.076 | Source: DOGEUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Token Metrics, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Dogecoin finally broke over $0.76 in the last 24 hours after a week of range trading and has emerged as a formidable performer in the past month. The crypto has seen gains of 25.9% in a 30-day timeframe, but the rally may be far from over. DOGE whales have been working tirelessly behind the scenes to put the meme coin on the map, increasing their holdings by a substantial amount in the past month. On-chain data has revealed that large DOGE addresses have added more than $2 billion in DOGE in an effort to drive the crypto towards the $0.1 level. Dogecoin Whales Inject $2 Billion Into DOGE In 30 Days Data from the crypto analytics platform IntoTheBlock has reiterated the current bullish sentiment among Dogecoin whales. According to its Balance By Holdings metric, the balance of addresses holding between $100,000 to $1 million worth of DOGE has increased by 24.31% in the past 30 days. Related Reading: Crypto Analyst Says XRP Price Will Take Off In One Week, Here\u2019s The Target Likewise, addresses holding between $1 million to $10 million increased by 27.43%, and addresses holding more than $10 million worth of DOGE increased by 29.28%.\u00a0 A closer look into this metric’s chart shows that the collective holdings of these addresses holding at least $100,000 worth of DOGE increased from $7.37 billion on October 7 to $9.469 billion on November 9. This implies that the crypto\u2019s whales have acquired an additional $2.099 billion in DOGE within the past month. Source: IntoTheBlock For regular investors, this whale activity is a bullish signal for DOGE’s price trajectory, as whale accumulation is still ongoing. IntoTheBlock’s data has also revealed these addresses holding at least $100,000 worth of DOGE have acquired $119 million in DOGE in the past 24 hours alone.\u00a0 IntoTheBlock’s Order Books metrics reveal an interesting imbalance between the supply and demand for DOGE. At the time of writing, buyers have placed buy orders of 902 million DOGE on various crypto exchanges. Meanwhile, sellers have only put up 876 million DOGE for sale. Source: IntoTheBlock Will DOGE Return To $0.1? The current shift towards higher demand and the current accumulation of whales speaks volumes of the current sentiment around Dogecoin and the massive injection of capital into Dogecoin could significantly impact its price.\u00a0 Crypto analyst Ali Martinez pointed out on X that DOGE’s crucial support wall at the $0.072 to $0.073 price point outstrips the resistance in strength. According to Martinez, a breakout over $0.76 puts the next significant hurdle at $0.084.\u00a0 Related Reading: Cardano Whales Go On $600 Million Buying Spree That Could Trigger Run To $0.4 #Dogecoin is navigating a tight zone, sandwiched by two crucial supply walls. \ud83d\udcc9 Support Wall: Spanning $0.072-$0.073, with 200K addresses holding 28.6B $DOGE. \ud83d\udcc8 Resistance Wall: Ranging from $0.074-$0.076, where 124K addresses hold 26.95B #DOGE. Note that support outstrips\u2026 pic.twitter.com\/O5FRIJ1SIl \u2014 Ali (@ali_charts) November 8, 2023 At the time of writing, the bulls have pushed DOGE by 4.28% in the past 24 hours, and the crypto is now trading at $0.07686. Continued buying pressure from the whales and retail traders could push DOGE back up to $0.1, which we haven’t seen since June. DOGE price reclaims $0.076 | Source: DOGEUSD on Tradingview.com Featured image from Token Metrics, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":559874,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,89916,7,1803,86960,79599,79600,89615,14781],"class_list":["post-559863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-doge-whales","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-whales","tag-dogeusd","tag-dogeusdt","tag-whale-news","tag-whales"],"acf":[],"yoast_head":"\nPrepare For Take-Off: Dogecoin Whales Have Injected $2 Billion Into DOGE<\/title>\n<meta name=\"description\" content=\"Dogecoin finally broke over $0.76 in the last 24 hours after a week of 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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