{"id":610981,"date":"2024-06-01T14:00:09","date_gmt":"2024-06-01T14:00:09","guid":{"rendered":"https:\/\/www.wncen.com\/?p=610981"},"modified":"2024-06-01T10:39:58","modified_gmt":"2024-06-01T10:39:58","slug":"dogecoin-whales-buy-112-million-worth-of-doge-as-crypto-investors-turn-their-attention-to-meme-coins","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/dogecoin-whales-buy-112-million-worth-of-doge-as-crypto-investors-turn-their-attention-to-meme-coins\/","title":{"rendered":"Dogecoin Whales Buy $112 Million Worth Of DOGE As Crypto Investors Turn Their Attention To Meme Coins"},"content":{"rendered":"

Dogecoin (DOGE)<\/span><\/a> has come under the spotlight, with crypto investors looking to have turned their attention to the <\/span>foremost meme coin<\/span><\/a>. This development is expected to positively impact the meme coin, which has lagged for a while now.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Bloodbath: Over $55 Million In Longs Liquidated As Price Plummets<\/a><\/div>\n

Dogecoin Whales Accumulate 700 Million DOGE<\/b><\/h2>\n

Crypto analyst Ali Martinez<\/span><\/a> revealed in an X (formerly Twitter) <\/span>post<\/span><\/a> that DOGE whales have bought over 700 million DOGE ($112 million) in the past 72 hours. This forms part of the current trend with crypto investors turning their attention to meme coins.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

Trading firm QCP Capital <\/span>confirmed<\/span><\/a> this trend in a recent market update, stating that traders are \u201cshifting their focus to higher beta meme tokens like <\/span>Shiba Inu (SHIBA)<\/span><\/a>, Dogecoin (DOGE), and <\/span>Pepe (PEPE)<\/span><\/a>. The trading firm also claimed that these meme coins are \u201cpolling in the top 10 for open interest\u201d with Shiba Inu and Pepe recording double-digit gains these past few days.\u00a0<\/span><\/p>\n

These investors are also believed to have accumulated DOGE in anticipation of imminent price gains for the foremost meme coin. Dogecoin has lagged compared to the <\/span>top meme coins<\/span><\/a>, which have made significant runs in the last seven days. This suggests that the meme coin will likely make a run of its own soon enough.\u00a0<\/span><\/p>\n

Dogecoin is currently trading at $0.15. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Crypto expert Michael van de Poppe<\/span><\/a> labeled Dogecoin as the \u201csafe bet to have in this cycle\u201d while noting that the \u201cmeme coin fiesta\u201d is still on with tokens like Dogwifhat. BONK, FLOKI, and Book of Meme (BOME) \u201cwaking up intensively.\u201d Van de Poppe further claimed that Dogecoin is the \u201ceasiest play of them all\u201d even though it isn\u2019t moving yet.\u00a0<\/span><\/p>\n

In a more recent <\/span>X post<\/span><\/a>, Van de Poppe again claimed that Dogecoin \u201cis such an easy play.\u201d he predicted that the meme coin would record a massive breakout and <\/span>might reach $1<\/span><\/a> in this market cycle.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

In a recent <\/span>X post<\/span><\/a>, Martinez also suggested that a parabolic surge was on the horizon for Dogecoin. He stated that the market sentiment for Dogecoin is as bearish as it was in early February, just before the meme coin\u2019s price surged by 200%.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

Why Dogecoin Is One Of The ‘Lowest Risk Trades’\u00a0<\/b><\/h2>\n

Crypto analyst Altcoin Sherpa <\/span>mentioned<\/span><\/a> that Dogecoin\u2019s rise to $0.40 is \u201cone of the lowest risk trades <\/span>this cycle<\/span><\/a>.\u201d The analyst outlined reasons why they hold this belief. Firstly, Altcoin Sherpa stated that <\/span>retail investors<\/span><\/a> will eventually accumulate as much Dogecoin as they can, which will cause it to experience such price surge.\u00a0<\/span><\/p>\n

Related Reading: MATIC Under The Lens: Why Is Polygon Busy But Not Making Money?<\/a><\/div>\n

Secondly, the analyst made reference to the world\u2019s richest man, <\/span>Elon Musk, and his fondness<\/span><\/a> for the meme coin and stated that \u201call it takes is one retarded Elon tweet to blow it (Dogecoin) up.\u201d The analyst added that Dogecoin has \u201cgreat liquidity\/low downside relative to other memes.\u201d<\/span><\/p>\n

\"\"<\/p>\n

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

Dogecoin (DOGE) has come under the spotlight, with crypto investors looking to have turned their attention to the foremost meme coin. This development is expected to positively impact the meme coin, which has lagged for a while now.\u00a0 Related Reading: Ethereum Bloodbath: Over $55 Million In Longs Liquidated As Price Plummets Dogecoin Whales Accumulate 700 Million DOGE Crypto analyst Ali Martinez revealed in an X (formerly Twitter) post that DOGE whales have bought over 700 million DOGE ($112 million) in the past 72 hours. This forms part of the current trend with crypto investors turning their attention to meme coins.\u00a0 Trading firm QCP Capital confirmed this trend in a recent market update, stating that traders are \u201cshifting their focus to higher beta meme tokens like Shiba Inu (SHIBA), Dogecoin (DOGE), and Pepe (PEPE). The trading firm also claimed that these meme coins are \u201cpolling in the top 10 for open interest\u201d with Shiba Inu and Pepe recording double-digit gains these past few days.\u00a0 These investors are also believed to have accumulated DOGE in anticipation of imminent price gains for the foremost meme coin. Dogecoin has lagged compared to the top meme coins, which have made significant runs in the last seven days. This suggests that the meme coin will likely make a run of its own soon enough.\u00a0 Crypto expert Michael van de Poppe labeled Dogecoin as the \u201csafe bet to have in this cycle\u201d while noting that the \u201cmeme coin fiesta\u201d is still on with tokens like Dogwifhat. BONK, FLOKI, and Book of Meme (BOME) \u201cwaking up intensively.\u201d Van de Poppe further claimed that Dogecoin is the \u201ceasiest play of them all\u201d even though it isn\u2019t moving yet.\u00a0 In a more recent X post, Van de Poppe again claimed that Dogecoin \u201cis such an easy play.\u201d he predicted that the meme coin would record a massive breakout and might reach $1 in this market cycle.\u00a0 In a recent X post, Martinez also suggested that a parabolic surge was on the horizon for Dogecoin. He stated that the market sentiment for Dogecoin is as bearish as it was in early February, just before the meme coin\u2019s price surged by 200%.\u00a0 Why Dogecoin Is One Of The ‘Lowest Risk Trades’\u00a0 Crypto analyst Altcoin Sherpa mentioned that Dogecoin\u2019s rise to $0.40 is \u201cone of the lowest risk trades this cycle.\u201d The analyst outlined reasons why they hold this belief. Firstly, Altcoin Sherpa stated that retail investors will eventually accumulate as much Dogecoin as they can, which will cause it to experience such price surge.\u00a0 Related Reading: MATIC Under The Lens: Why Is Polygon Busy But Not Making Money? Secondly, the analyst made reference to the world\u2019s richest man, Elon Musk, and his fondness for the meme coin and stated that \u201call it takes is one retarded Elon tweet to blow it (Dogecoin) up.\u201d The analyst added that Dogecoin has \u201cgreat liquidity\/low downside relative to other memes.\u201d Featured image from Getty Images, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":610989,"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":[142,6664,1785,7,14781],"class_list":["post-610981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-doge","tag-dogecoin","tag-whales"],"acf":[],"yoast_head":"\nDogecoin Whales Buy $112 Million Worth Of DOGE<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) has come under the spotlight, with crypto investors looking to have turned their attention to the foremost meme coin. 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