The Dogecoin price experienced a significant decline following Bitcoin's drop to $60,000, attributed to escalating tensions in the Middle East. Despite causing panic among investors, Dogecoin whales capitalized on the situation by purchasing over a billion coins in a single day. While the price plummeted by nearly 20% earlier in the week, triggering selling pressure, large holders holding between 100 million and 1 billion DOGE took advantage of the dip. These whales, with holdings exceeding $10 million, spent $108.7 million on Dogecoin, indicating their confidence in a market recovery. Although October historically favors bullish trends in the crypto market, Dogecoin's performance has been lackluster so far this month, down by 4.98%. However, with an average October return of +7.36% and promising December returns, investors remain hopeful for a turnaround. Read more AI-generated news on: https://app.chaingpt.org/news

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