Dogecoin

United

Billion

<p>Dogecoin (DOGE), the popular and largest meme coin, is gaining significant attention from crypto enthusiasts following its impressive performance during the United States presidential election.</p>  
<h2 class="wp-block-heading" id="h-whales-move-1-06-billion-doge-nbsp"><strong>Whales Move 1.06 Billion DOGE&nbsp;</strong></h2>  
<p>On November 5, 2024, a whale transaction tracker Whale Alert made a post on X (Previously Twitter) that whales have transferred a total of 1.06 billion DOGE tokens worth $180.22 million in the past 24 hours. This substantial token withdrawal occurred in two <a href="https://x.com/whale_alert/status/1853856456375751060" target="_blank" rel="noopener noreferrer nofollow">separate transactions</a>, one on Binance and another on Robinhood.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/whale_alert/status/1853787271436103818
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<p>However, this happened just ahead of the Presidential election results, with many betting on <a href="https://coinpedia.org/news/bitcoin-ready-for-pump-on-chain-insights-amid-u-s-election-polls/" rel="noopener noreferrer nofollow">Donald Trump</a>, who is pro-crypto and currently leading in the polls. This has resulted in a notable recovery and price surge across the crypto landscape. Additionally, there is a strong possibility that we could see this increase significantly if Trump wins the election.</p>  
<h3 class="wp-block-heading" id="h-current-price-momentum-nbsp"><strong>Current Price Momentum&nbsp;</strong></h3>  
<p>Following all these developments, DOGE is currently trading near $0.18 and has experienced a price surge of over 12% in the past 24 hours. During the same period, its trading volume jumped by 75%, indicating heightened participation from traders and investors ahead of the election result.</p>  
<h2 class="wp-block-heading" id="h-doge-technical-analysis-and-upcoming-levels"><strong>DOGE Technical Analysis and Upcoming Levels&nbsp;</strong></h2>  
<p>According to expert technical analysis, DOGE has broken out from a crucial resistance level at $0.1785 and appears bullish. This breakout seems genuine, as it follows a period of price consolidation near the resistance level and coincides with election results showing a pro-crypto candidate in the lead.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/11/06075754/DOGEUSDT_2024-11-06_07-56-57.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/06075754/DOGEUSDT_2024-11-06_07-56-57-1024x448.png" alt="" class="wp-image-376341"></a>
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  Source: Trading View
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</figure>  
<p>Based on recent price action and historical momentum, if DOGE closes a daily candle above the $0.184 level, it is highly probable that it will soar by 20% to reach the $0.22 level in the coming days.&nbsp;</p>  
<p>As of now, the meme coin is trading above the 200 Exponential Moving Average (EMA) on a daily time frame, indicating an uptrend.</p>  
<h3 class="wp-block-heading" id="h-bullish-on-chain-metrics"><strong>Bullish On-Chain Metrics</strong></h3>  
<p>This bullish outlook is further supported by on-chain metrics. According to analytics firm IntoTheBlock, the volume of large DOGE transactions has increased by 27.15%, a sign of growing interest among larger investors and whales.</p>

DOGE Price Surge Imminent? Whales Scoop 1.06 Billion Dogecoin

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