{"id":626500,"date":"2024-06-26T23:30:53","date_gmt":"2024-06-26T23:30:53","guid":{"rendered":"https:\/\/wncen.com\/?p=626500"},"modified":"2024-06-26T13:21:40","modified_gmt":"2024-06-26T13:21:40","slug":"dogecoin-rapid-accumulation","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-rapid-accumulation\/","title":{"rendered":"Dogecoin Sees Rapid Accumulation Amid Price Crash, Whale Transactions Soar"},"content":{"rendered":"

Dogecoin (DOGE)<\/span><\/a> whales look to have used this <\/span>recent price crash<\/span><\/a> as an opportunity to accumulate the foremost meme coin. This provides a positive development for Dogecoin, and the meme coin has already reacted positively, seeing how its price has recovered in the last 24 hours.\u00a0<\/span><\/p>\n

Dogecoin Whales Accumulate More DOGE<\/h2>\n

Data<\/span><\/a> from the <\/span>market intelligence platform IntoTheBlock<\/span><\/a> shows that Dogecoin witnessed $1 billion in large transactions these past few days. <\/span>Large transactions<\/span><\/a> refer to ones that involve $100,000 worth of Dogecoin or more being traded. An increase in the large transactions suggests that whales are either accumulating more Dogecoin or looking to offload their tokens.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Enters Accumulation Zone Amid 493% In Shibarium Transaction Fees<\/a><\/div>\n
\"Dogecoin
Source: IntoTheBlock<\/figcaption><\/figure>\n

Further data from IntoTheBlock suggests that these whales are indeed <\/span>accumulating more Dogecoin<\/span><\/a> following this recent market decline. The net flows to exchanges metric has been negative over the past seven days, which shows that these whales have been buying the dip rather than moving their holdings to exchanges to offload their tokens.\u00a0<\/span><\/p>\n

\"Dogecoin
Source: IntoTheBlock<\/figcaption><\/figure>\n

This presents a bullish outlook for DOGE and again highlights these investors’ conviction in the foremost meme coin. This <\/span>wave of accumulation<\/span><\/a> by Dogecoin whales is also significant as it could help spark a price recovery for Dogecoin, which had dropped to as low as $0.11 following the recent market decline.\u00a0<\/span><\/p>\n

Besides this wave of accumulation, Dogecoin already looked poised to <\/span>rebound to the upside<\/span><\/a> as the market value to realized value (MVRV) ratio showed that the meme coin was greatly undervalued at its current price levels. Crypto analyst Kriss Pax also <\/span>recently predicted<\/span><\/a> that Dogecoin should enjoy a massive bounce from here and significantly move to the upside.\u00a0<\/span><\/p>\n

The analyst alluded to DOGE’s <\/span>relative strength index (RSI)<\/span><\/a> which he noted painted a bullish picture for the meme coin. Interestingly, he suggested this was the right time to buy Dogecoin as he didn\u2019t foresee the meme coin going lower than its current price level. Pax also alluded to the growing altcoin dominance, which could usher in the <\/span>altcoin season<\/span><\/a> when coins like Dogecoin are expected to enjoy a massive rally.\u00a0<\/span><\/p>\n

DOGE Will Still Reach As High As $2 In This Market Cycle<\/h2>\n

Crypto analyst Crypto Kaleo<\/span><\/a> recently <\/span>provided<\/span><\/a> a bullish narrative for Dogecoin, predicting that the foremost meme coin can rise to $1 and $2 in <\/span>this bull run<\/span><\/a>. He noted that the foremost meme coin has traded sideways for most of its existence, but when it pumps, it is always parabolic, alluding to how the meme coin had rallies where it enjoyed a 6,000% and 30,000% price gain in the past.\u00a0<\/span><\/p>\n

\"Dogecoin
Source: X<\/figcaption><\/figure>\n

Crypto Kaleo<\/span><\/a> mentioned that these moves occurred 8 to 9 months after the previous halvings. Based on historical trends, it is fitting that DOGE doesn\u2019t enjoy a real breakout until sometime between December this year and February next year.\u00a0<\/span><\/p>\n

Related Reading: Spot Bitcoin ETFs See 7 Consecutive Days Of Outflows, Here\u2019s What Happened Last Time<\/a><\/div>\n

Crypto Kaleo predicts that <\/span>Dogecoin<\/span> could drop to as low as $0.08, retracing its price levels before the massive rally it enjoyed this year. He claims that such a move would be similar to the -30% drawdown and retrace that occurred in August 2020, several months before Dogecoin wet mainstream and began to pump massively.\u00a0<\/span><\/p>\n

\"Dogecoin
DOGE price at $0.12 | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Dogecoin (DOGE) whales look to have used this recent price crash as an opportunity to accumulate the foremost meme coin. This provides a positive development for Dogecoin, and the meme coin has already reacted positively, seeing how its price has recovered in the last 24 hours.\u00a0 Dogecoin Whales Accumulate More DOGE Data from the market intelligence platform IntoTheBlock shows that Dogecoin witnessed $1 billion in large transactions these past few days. Large transactions refer to ones that involve $100,000 worth of Dogecoin or more being traded. An increase in the large transactions suggests that whales are either accumulating more Dogecoin or looking to offload their tokens.\u00a0 Related Reading: Shiba Inu Enters Accumulation Zone Amid 493% In Shibarium Transaction Fees Further data from IntoTheBlock suggests that these whales are indeed accumulating more Dogecoin following this recent market decline. The net flows to exchanges metric has been negative over the past seven days, which shows that these whales have been buying the dip rather than moving their holdings to exchanges to offload their tokens.\u00a0 This presents a bullish outlook for DOGE and again highlights these investors’ conviction in the foremost meme coin. This wave of accumulation by Dogecoin whales is also significant as it could help spark a price recovery for Dogecoin, which had dropped to as low as $0.11 following the recent market decline.\u00a0 Besides this wave of accumulation, Dogecoin already looked poised to rebound to the upside as the market value to realized value (MVRV) ratio showed that the meme coin was greatly undervalued at its current price levels. Crypto analyst Kriss Pax also recently predicted that Dogecoin should enjoy a massive bounce from here and significantly move to the upside.\u00a0 The analyst alluded to DOGE’s relative strength index (RSI) which he noted painted a bullish picture for the meme coin. Interestingly, he suggested this was the right time to buy Dogecoin as he didn\u2019t foresee the meme coin going lower than its current price level. Pax also alluded to the growing altcoin dominance, which could usher in the altcoin season when coins like Dogecoin are expected to enjoy a massive rally.\u00a0 DOGE Will Still Reach As High As $2 In This Market Cycle Crypto analyst Crypto Kaleo recently provided a bullish narrative for Dogecoin, predicting that the foremost meme coin can rise to $1 and $2 in this bull run. He noted that the foremost meme coin has traded sideways for most of its existence, but when it pumps, it is always parabolic, alluding to how the meme coin had rallies where it enjoyed a 6,000% and 30,000% price gain in the past.\u00a0 Crypto Kaleo mentioned that these moves occurred 8 to 9 months after the previous halvings. Based on historical trends, it is fitting that DOGE doesn\u2019t enjoy a real breakout until sometime between December this year and February next year.\u00a0 Related Reading: Spot Bitcoin ETFs See 7 Consecutive Days Of Outflows, Here\u2019s What Happened Last Time Crypto Kaleo predicts that Dogecoin could drop to as low as $0.08, retracing its price levels before the massive rally it enjoyed this year. He claims that such a move would be similar to the -30% drawdown and retrace that occurred in August 2020, several months before Dogecoin wet mainstream and began to pump massively.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":625289,"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":[1785,89174,85675,7,1803,1804,79599,79600,14896],"class_list":["post-626500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt","tag-whale"],"acf":[],"yoast_head":"\nDogecoin Sees Rapid Accumulation Amid Price Crash, Whale Transactions Soar<\/title>\n<meta name=\"description\" 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