Dogecoin Whale Buys Jump 900%, Bulls Ready For Breakout
DOGE whales are expecting a bullish turnaround for the leading meme currency. According to on-chain statistics, these whales have restored faith in Dogecoin and are buying more DOGE ahead of a surge.
On July 10, Dogecoin whales acquired 364.38 million DOGE, up 868% from the day before when they sold 37.05 million DOGE, according to IntoTheBlock. This buildup continued on July 12 when these whales acquired 114.71 million DOGE.
These whales may be buying Dogecoin before a breakthrough rise for the leading meme currency. DOGE is poised for this, with various on-chain measures favoring the meme currency. IntoTheBlock data suggests that most holders are again in the money, indicating no selling pressure.
The ‘In The Money’ measure reveals that Dogecoin bulls held the $0.10 support level, which was critical. With bears exhausted, a bullish reversal is expected. Other Dogecoin measures like bid-ask volume imbalance and smart pricing are optimistic.
Dogecoin's good price connection with Bitcoin suggests a breakthrough surge. With the flagship crypto recovering and trying to recapture $60,000, the leading meme currency might also surge to new heights.
Crypto expert Kevin (previously OG Yomi) revealed that Bitcoin's price will determine Dgecoin's surge. He said the meme currency should rebound and “attack the highs sooner rather than later” if a bull market continues. The expert had anticipated Dogecoin would reach $3 this market cycle.
Crypto expert Altcoin Sherpa said Dogecoin would produce “big numbers” later this year despite its current struggles. The crypto researcher projected that Dogecoin will increase to $1 in this cycle and called it one of the “safest bets” in current bull run.
Crypto expert Andrew Kang has said that meme currencies like Dogecoin are most likely to reach new highs by the end of the year or early 2025. Crypto Kaleo also projected a big Dogecoin rise by December or early next year.
