Accumulate

Dogecoin

bullish

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-whales-accumulate-tokens-boosting-market-sentiment/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin Whales Accumulate Tokens, Boosting Market Sentiment</a><br></p>
<p style="text-align: justify">Dogecoin whales have generated significant activity in the broader <a href="https://en.coin-turk.com/trump-invests-significantly-in-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency market</a> by accumulating large amounts of tokens during the rise of the meme coin. On-chain statistics indicate that over 300 million DOGE has been withdrawn from <a href="https://en.coin-turk.com/jim-cramers-criticism-of-crypto-industry-sec-actions-binance-and-solana-debates/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency exchanges</a> recently. This situation has increased optimism among traders regarding the future price movements of the coin.</p>
<h2 id="dogecoin-whale-activity">Dogecoin Whale Activity</h2>
<p style="text-align: justify">According to Whale Alert’s data from November 11, Dogecoin whales withdrew 311 million DOGE from cryptocurrency exchanges within a single day. Of this amount, 200 million was withdrawn from <a href="https://en.coin-turk.com/binance-us-responds-to-secs-unreasonable-and-burdening-requests-legal-battle-continues/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, valued at approximately $56.38 million, while 111 million DOGE was transferred from Robinhood’s crypto trading section, worth around $30 million.</p>
<p style="text-align: justify">On the same day, it was also observed that 98 million DOGE was sent back to Binance and Robinhood by the whales within hours. These sales caused a temporary drop in Dogecoin’s price. However, due to the dominance of buyers, the price began to rise again.</p>
<h2 id="doge-price-insights">DOGE Price Insights</h2>
<p style="text-align: justify">Currently, DOGE is trading at around $0.32 and has shown double-digit gains in the last 24 hours. Additionally, Dogecoin’s daily trading volume has surged by 222% to $18.60 billion. This indicates growing investor interest and creates a positive outlook for the meme coin in the market. The weekly chart shows an 84% gain, signaling a bullish trend. Considering that the daily market volume had dropped to $20 billion months ago, it illustrates the significant volume success achieved by DOGE.</p>
<p style="text-align: justify">Recent analysis reveals that wallets holding between 100 million and 1 billion DOGE have increased their holdings. This data suggests a growing confidence in the coin. The analysis also points out that the cup-and-handle formation seen on the price chart could indicate a potential 53% increase, supporting DOGE’s target of reaching $0.4.</p>
<p style="text-align: justify">In light of this information, Dogecoin appears to have strengthened its position in the market. The accumulation of DOGE in large quantities by whales and the increase in trading volume lead to positive expectations regarding future price movements of the coin.</p>
<p>The post <a href="https://en.coin-turk.com/dogecoin-whales-accumulate-tokens-boosting-market-sentiment/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin Whales Accumulate Tokens, Boosting Market Sentiment</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Dogecoin Whales Accumulate Tokens, Boosting Market Sentiment

Table of Contents

COINTURK NEWS

Other articles published on Nov 11, 2024

Digital Asset Investment Products Hit Nearly $2B Inflows Post-US Election

Virtual Assets Lab (VAL.com) Announces Next-Generation Stablecoin Management and Wallet Platform

5 Low-Cost Altcoins Tipped by Crypto Millionaires to Deliver 500x Returns in 2024!

Best AI Cryptocurrencies to Buy in November 2024 Before the Bull Run

Zero-Fee Transactions Are Boosting Blockchain’s Appeal

5 Must-Have Tokens to Buy Now, According to a Leading Crypto Analyst—Grab Them Before Year-End!

Join our free newsletter for daily crypto updates!