Whale Alert: 200 Million Dogecoin Bought—Is A Price Rally On The Horizon?

Source Newsbtc

Based on reports from crypto market analysts, Dogecoin has caught investors’ attention with a significant whale buying trend.

Crypto market analyst Ali Martinez revealed that major investors have purchased 200 million Dogecoin tokens in just two weeks, sending ripples through the cryptocurrency market. This unexpected move has sparked intense discussion among traders and market watchers.

Massive Coin Accumulation Signals Market Shift

Investors are watching closely as large Dogecoin holders make substantial moves. The token has seen a remarkable price jump from $0.148 to $0.185 between March 11 and 25, representing a nearly 26% increase.

Market experts point to this substantial growth as a potential turning point for the meme crypto. Some traders believe the whale activity could be a harbinger of more significant price movements.

Analysts Predict Potential Price Surge

Market watchers have picked up on encouraging signals that suggest Dogecoin might be heading for a substantial rally. Analyst Trader Tardigrade provided additional excitement by suggesting the cryptocurrency is completing its third market cycle.

This analysis hints at a potential significant price increase that could catch the attention of both seasoned and novice investors. The weekly chart supports this optimism, displaying a 22% gain in recent days.

Derivatives Market Shows Growing Interest

Trading data tells us more about why so many people are excited about Dogecoin. Futures open interest went up 6%, reaching nearly $2 billion, showing more people and big companies believe in it. The amount traded jumped by 15%, hitting over $4 billion, based on Coinglass data. These numbers show more people are getting involved and the market could keep going up.

Big Buyers Keep Pushing The Market Up

Big investors have been buying up Dogecoin in large volumes, and it’s a pretty strong sign of confidence in the market. Even with all the ups and downs in price, they clearly see something in the meme coin.

Snapping up 200 million coins in just two weeks isn’t a small move—it shows they believe in where this thing is headed. Right now, Dogecoin is sitting at $0.1910, up 5% on the day, which just adds to the growing optimism.

Featured image from Gemini Imagen, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
BNB Price Reclaims $600 — Is This the Start of a Major Upside Move?BNB price is rising from the $580 support zone. The price is now consolidating gains above $600 and might aim for more gains in the near term. BNB price is attempting to recover above the $615
Author  FXStreet
4 Month 23 Day Wed
BNB price is rising from the $580 support zone. The price is now consolidating gains above $600 and might aim for more gains in the near term. BNB price is attempting to recover above the $615
placeholder
XRP Price Breaks Key Resistance Level, Eyes Fresh Upside MomentumXRP price found support at $2.080 and started a fresh increase. The price is now gaining pace and might clear the $2.150 resistance zone. XRP price started a recovery wave above the $2.10 zone. The
Author  NewsBTC
Yesterday 07: 04
XRP price found support at $2.080 and started a fresh increase. The price is now gaining pace and might clear the $2.150 resistance zone. XRP price started a recovery wave above the $2.10 zone. The
placeholder
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  FXStreet
Yesterday 07: 10
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Ripple Price Forecast: $3 XRP breakout looms after $50M SEC settlementRipple (XRP) price consolidates gains around $2.31 at the time of writing on Friday, down slightly on the day. A joint motion filed by Ripple and the Securities and Exchange Commission (SEC) on Thursday revealed that the two parties have reached a settlement agreement pending judicial approval. 
Author  FXStreet
7 hours ago
Ripple (XRP) price consolidates gains around $2.31 at the time of writing on Friday, down slightly on the day. A joint motion filed by Ripple and the Securities and Exchange Commission (SEC) on Thursday revealed that the two parties have reached a settlement agreement pending judicial approval. 
placeholder
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds FastEthereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance. The price
Author  NewsBTC
7 hours ago
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance. The price
goTop
quote