{"id":562261,"date":"2023-11-24T13:00:14","date_gmt":"2023-11-24T13:00:14","guid":{"rendered":"https:\/\/wncen.com\/?p=562261"},"modified":"2023-11-24T09:35:38","modified_gmt":"2023-11-24T09:35:38","slug":"big-money-dogecoin-0-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/big-money-dogecoin-0-2\/","title":{"rendered":"Big Money Returns To Dogecoin: Rally To $0.2 Already Programmed?"},"content":{"rendered":"

Dogecoin is trading<\/span><\/a> in the green today, which is a reflection of what on-chain data suggests maybe whales looking to propel the crypto to a rally. Recent on-chain data shows that institutional money might be returning to the meme token, as evident by the number of Dogecoin wallets holding large amounts of DOGE tokens.\u00a0<\/span><\/p>\n

Institutional Interest In Dogecoin<\/h2>\n

Data from the crypto analytics platform IntoTheBlock has reiterated the current bullish sentiment among Dogecoin whales. <\/span>According to its large transaction<\/span><\/a> metric, the number of DOGE transactions worth $100,000 or more has been on a run since the middle of last month and resumed a spike in the past week.\u00a0<\/span><\/p>\n

Related Reading: Grayscale Files Updated Spot ETF As Bitcoin Barrels Past $37,000<\/a><\/div>\n

IntoTheBlock puts the number of transactions worth $100,000 at 1,300 in the past 24 hours and a 7-day high of 1,770. This notable increase indicates a growing interest in DOGE from institutional players and large-scale investors, which brings more stability and less volatility.<\/span><\/p>\n

This large transaction volume has been going on for a while, as <\/span>an earlier report<\/span><\/a> noted large holders added more than $2 billion into DOGE throughout October and the first week of November.\u00a0<\/span><\/p>\n

Crypto Analyst Ali Martinez also shared a similar sentiment for the translation of the metric’s data on social media. According to him, the number of huge DOGE transactions has consistently set new highs this month, which might suggest an increased interest in DOGE from institutional players.\u00a0<\/span><\/p>\n

\n

#Dogecoin<\/a> | There’s a notable surge in $DOGE<\/a> transactions exceeding $100,000 in the past month, consistently hitting new highs.<\/p>\n

This uptick suggests increased interest in #DOGE<\/a> from institutional players and whales, potentially gearing up for a significant price spike. pic.twitter.com\/UpxVkfu9hW<\/a><\/p>\n

\u2014 Ali (@ali_charts) November 23, 2023<\/a><\/p><\/blockquote>\n

Is A Spike Imminent? DOGE To $0.2?<\/h2>\n

Large transactions are something to keep an eye on, as they might indicate a significant price spike if they are buy-ins. Similarly, on-chain analytics platform Santiment recently shared an insight into what might be another catalyst for the price of DOGE.<\/span><\/p>\n

Santiment reported that the number of Dogecoin wallets holding over 1 million DOGE has spiked, as 121 new wallets were created in the past month. At the same time, the crypto recently had the largest spike in dormant DOGE activity in June, as massive amounts of older DOGE moved out of stagnant wallets. While this may be a sign of a selloff, Santiment pointed out that this move often signaled a positive momentum.<\/span><\/p>\n

Related Reading: Cardano Forecast: Crypto Analyst Identifies The Event That Could Send ADA Price To $11<\/a><\/div>\n
\n

\ud83d\udc36 #Altcoins<\/a> are back in the green today, and data indicates there has been a massive amount of older $DOGE<\/a> moving out of stagnant wallets today. Keep an eye on this, as well as the fact that 121 new 1M+ #Dogecoin<\/a> wallets have popped up in the past month. https:\/\/t.co\/OjXvbTEEf9<\/a> pic.twitter.com\/zHMyiqBI7c<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) November 22, 2023<\/a><\/p><\/blockquote>\n

Despite all the whale<\/span><\/a> buy-ins and large transactions since October, DOGE has struggled to post high gains compared to other altcoins. The crypto is down by 7.8% in the past week, although a 2.17% increase in the past 24 hours shows momentum might be building. A price surge to $0.2 is still in the books for DOGE, and all it needs is a major catalyst. The first hurdle to break would be a strong footing above $0.08.\u00a0<\/span><\/p>\n

DOGE is trading at $0.0776 at the time of writing. <\/span>IntoTheBlock puts<\/span><\/a> the number of addresses still waiting for a profit at 557,560. On the other hand, a drop below $0.6 could cast doubt on the weak optimistic outlook.<\/span><\/p>\n

According to crypto analyst Alan Santana, this is poised to change soon, as Dogecoin could <\/span>break out in the next six months<\/span><\/a>.<\/span><\/p>\n

\"Dogecoin<\/p>\n

DOGE price records small gains | Source: DOGEUSD On Tradingview.com<\/a><\/pre>\n
Featured image from Finbold, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Dogecoin is trading in the green today, which is a reflection of what on-chain data suggests maybe whales looking to propel the crypto to a rally. Recent on-chain data shows that institutional money might be returning to the meme token, as evident by the number of Dogecoin wallets holding large amounts of DOGE tokens.\u00a0 Institutional Interest In Dogecoin Data from the crypto analytics platform IntoTheBlock has reiterated the current bullish sentiment among Dogecoin whales. According to its large transaction metric, the number of DOGE transactions worth $100,000 or more has been on a run since the middle of last month and resumed a spike in the past week.\u00a0 Related Reading: Grayscale Files Updated Spot ETF As Bitcoin Barrels Past $37,000 IntoTheBlock puts the number of transactions worth $100,000 at 1,300 in the past 24 hours and a 7-day high of 1,770. This notable increase indicates a growing interest in DOGE from institutional players and large-scale investors, which brings more stability and less volatility. This large transaction volume has been going on for a while, as an earlier report noted large holders added more than $2 billion into DOGE throughout October and the first week of November.\u00a0 Crypto Analyst Ali Martinez also shared a similar sentiment for the translation of the metric’s data on social media. According to him, the number of huge DOGE transactions has consistently set new highs this month, which might suggest an increased interest in DOGE from institutional players.\u00a0 #Dogecoin | There’s a notable surge in $DOGE transactions exceeding $100,000 in the past month, consistently hitting new highs. This uptick suggests increased interest in #DOGE from institutional players and whales, potentially gearing up for a significant price spike. pic.twitter.com\/UpxVkfu9hW \u2014 Ali (@ali_charts) November 23, 2023 Is A Spike Imminent? DOGE To $0.2? Large transactions are something to keep an eye on, as they might indicate a significant price spike if they are buy-ins. Similarly, on-chain analytics platform Santiment recently shared an insight into what might be another catalyst for the price of DOGE. Santiment reported that the number of Dogecoin wallets holding over 1 million DOGE has spiked, as 121 new wallets were created in the past month. At the same time, the crypto recently had the largest spike in dormant DOGE activity in June, as massive amounts of older DOGE moved out of stagnant wallets. While this may be a sign of a selloff, Santiment pointed out that this move often signaled a positive momentum. Related Reading: Cardano Forecast: Crypto Analyst Identifies The Event That Could Send ADA Price To $11 \ud83d\udc36 #Altcoins are back in the green today, and data indicates there has been a massive amount of older $DOGE moving out of stagnant wallets today. Keep an eye on this, as well as the fact that 121 new 1M+ #Dogecoin wallets have popped up in the past month. https:\/\/t.co\/OjXvbTEEf9 pic.twitter.com\/zHMyiqBI7c \u2014 Santiment (@santimentfeed) November 22, 2023 Despite all the whale buy-ins and large transactions since October, DOGE has struggled to post high gains compared to other altcoins. The crypto is down by 7.8% in the past week, although a 2.17% increase in the past 24 hours shows momentum might be building. A price surge to $0.2 is still in the books for DOGE, and all it needs is a major catalyst. The first hurdle to break would be a strong footing above $0.08.\u00a0 DOGE is trading at $0.0776 at the time of writing. IntoTheBlock puts the number of addresses still waiting for a profit at 557,560. On the other hand, a drop below $0.6 could cast doubt on the weak optimistic outlook. According to crypto analyst Alan Santana, this is poised to change soon, as Dogecoin could break out in the next six months. DOGE price records small gains | Source: DOGEUSD On Tradingview.com Featured image from Finbold, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":562263,"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":[1785,89174,85675,89916,7,1803,1804,86960,79599,79600],"class_list":["post-562261","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-price","tag-dogecoin-whales","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nBig Money Returns To Dogecoin: Rally To $0.2 Already Programmed?<\/title>\n<meta name=\"description\" content=\"Dogecoin is trading in the green today, which is a reflection of what on-chain data suggests 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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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