{"id":609340,"date":"2024-05-23T00:00:29","date_gmt":"2024-05-23T00:00:29","guid":{"rendered":"https:\/\/wncen.com\/?p=609340"},"modified":"2024-05-22T17:29:23","modified_gmt":"2024-05-22T17:29:23","slug":"dogecoin-whales-on-the-move-transactions-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-whales-on-the-move-transactions-surge\/","title":{"rendered":"Dogecoin Whales On The Move: Transactions Surge More Than 50% Amid ETF Speculation"},"content":{"rendered":"

Dogecoin (DOGE), a meme-inspired crypto, has recently experienced a significant surge in activity from large-scale investors, commonly known as “whales.”<\/p>\n

Recent data<\/a> shows that the value of substantial transactions has nearly doubled in the last 24 hours.<\/p>\n

Related Reading: Dogecoin Bulls On The Rise: Analyst Highlight Path To $0.2<\/a><\/div>\n

Dogecoin Transactions Soar As ETF Speculation Intensifies<\/h2>\n

According to data from IntoTheBlock, the value of these large transactions<\/a> exceeding $100,000 has significantly increased within the past 24 hours. This dramatic increase saw the total value surge from $1.53 billion to roughly $3.01 billion.<\/p>\n

\"Dogecoin
Dogecoin Large Transaction Volume. | Source: IntotheBlock<\/a><\/figcaption><\/figure>\n

Concurrently, the volume of DOGE transferred by these whales expanded from 9.74 billion to 17.97 billion DOGE coins, indicating a marked uptick in investor engagement and movement within the Dogecoin ecosystem<\/a>.<\/p>\n

This significant uptick in whale transactions coincides with mounting speculation in the crypto community regarding the potential approval of a Dogecoin ETF.<\/p>\n

The enthusiasm around a possible Ethereum ETF has sparked conversations about DOGE being the next cryptocurrency to have its exchange-traded fund.<\/p>\n

Amidst the rumors, a notable post by a crypto enthusiast, Vee, on X suggested that Dogecoin’s non-security status and widespread adoption make it an ideal candidate for an ETF.<\/p>\n

The post highlighted the dual-edged nature of traditional financial institutions’ interest in Dogecoin, ironically pointing out both the potential benefits and drawbacks.<\/p>\n

\n

a dogecoin etf would be amusing<\/p>\n

\u2014 Shibetoshi Nakamoto (@BillyM2k) May 21, 2024<\/a><\/p><\/blockquote>\n

Billy Markus, a co-creator of Dogecoin, humorously commented on the speculation, noting that a Dogecoin ETF would be “amusing.” This sentiment reflects DOGE’s light-hearted origin but doesn’t detract from its serious investment potential, highlighted by recent market trends.<\/p>\n

Dogecoin is following the global crypto market’s uptrend<\/a>, with an 11.2% increase over the past week. However, in the last 24 hours, the increase has been a modest 0.7%, with the crypto trading at $0.168.<\/p>\n

\"Dogecoin
DOGE price is moving upside down on the 4-hour chart. Source: DOGE\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Technical Analysis Of DOGE And Future Prospects<\/h2>\n

Analysts are watching Dogecoin closely. A prominent crypto analyst, Ali, noted that DOGE is nearing a critical<\/a> resistance level, suggesting potential upward movement soon.<\/p>\n

Related Reading: Dogecoin Forms Symmetrical Triangle, Rally On The Horizon?<\/a><\/div>\n

His observations are based on DOGE’s breakout from a descending triangle pattern, a sign that often indicates a shift toward bullish market behavior.<\/p>\n

\n

Now, in 2024, #DOGE<\/a> has yet again broken out of a descending triangle!<\/p>\n

It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next $DOGE<\/a> bull run! pic.twitter.com\/ZmuHmvIwei<\/a><\/p>\n

\u2014 Ali (@ali_charts) May 1, 2024<\/a><\/p><\/blockquote>\n

Another Crypto Daily Trade Signals analyst identified a symmetrical triangle pattern<\/a> in DOGE’s price movements, reinforcing the potential for continued growth. This analysis places immediate resistance near $0.15950; a mark DOGE has recently surpassed, pointing to further resistance at $0.16980 and $0.18440.<\/p>\n

Featured image from Dall-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Dogecoin (DOGE), a meme-inspired crypto, has recently experienced a significant surge in activity from large-scale investors, commonly known as “whales.” Recent data shows that the value of substantial transactions has nearly doubled in the last 24 hours. Related Reading: Dogecoin Bulls On The Rise: Analyst Highlight Path To $0.2 Dogecoin Transactions Soar As ETF Speculation Intensifies According to data from IntoTheBlock, the value of these large transactions exceeding $100,000 has significantly increased within the past 24 hours. This dramatic increase saw the total value surge from $1.53 billion to roughly $3.01 billion. Concurrently, the volume of DOGE transferred by these whales expanded from 9.74 billion to 17.97 billion DOGE coins, indicating a marked uptick in investor engagement and movement within the Dogecoin ecosystem. This significant uptick in whale transactions coincides with mounting speculation in the crypto community regarding the potential approval of a Dogecoin ETF. The enthusiasm around a possible Ethereum ETF has sparked conversations about DOGE being the next cryptocurrency to have its exchange-traded fund. Amidst the rumors, a notable post by a crypto enthusiast, Vee, on X suggested that Dogecoin’s non-security status and widespread adoption make it an ideal candidate for an ETF. The post highlighted the dual-edged nature of traditional financial institutions’ interest in Dogecoin, ironically pointing out both the potential benefits and drawbacks. a dogecoin etf would be amusing \u2014 Shibetoshi Nakamoto (@BillyM2k) May 21, 2024 Billy Markus, a co-creator of Dogecoin, humorously commented on the speculation, noting that a Dogecoin ETF would be “amusing.” This sentiment reflects DOGE’s light-hearted origin but doesn’t detract from its serious investment potential, highlighted by recent market trends. Dogecoin is following the global crypto market’s uptrend, with an 11.2% increase over the past week. However, in the last 24 hours, the increase has been a modest 0.7%, with the crypto trading at $0.168. Technical Analysis Of DOGE And Future Prospects Analysts are watching Dogecoin closely. A prominent crypto analyst, Ali, noted that DOGE is nearing a critical resistance level, suggesting potential upward movement soon. Related Reading: Dogecoin Forms Symmetrical Triangle, Rally On The Horizon? His observations are based on DOGE’s breakout from a descending triangle pattern, a sign that often indicates a shift toward bullish market behavior. Now, in 2024, #DOGE has yet again broken out of a descending triangle! It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next $DOGE bull run! pic.twitter.com\/ZmuHmvIwei \u2014 Ali (@ali_charts) May 1, 2024 Another Crypto Daily Trade Signals analyst identified a symmetrical triangle pattern in DOGE’s price movements, reinforcing the potential for continued growth. This analysis places immediate resistance near $0.15950; a mark DOGE has recently surpassed, pointing to further resistance at $0.16980 and $0.18440. Featured image from Dall-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":609341,"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":[134,6664,1785,7,1791,89765,87540,79600,85699],"class_list":["post-609340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-altcoin","tag-crypto","tag-doge","tag-dogecoin","tag-dogecoin-analysis","tag-dogecoin-prediction","tag-dogecoin-whale","tag-dogeusdt","tag-memecoin"],"acf":[],"yoast_head":"\nDogecoin Whales On The Move: Transactions Surge More Than 50% Amid ETF Speculation<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE), a meme-inspired crypto, has recently experienced a significant surge in activity from large-scale investors, commonly...\" \/>\n<meta name=\"robots\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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