【Dogecoin Whale Accumulates 155 Million DOGE, Has the Decline Ended?】
Recently, a Dogecoin whale has once again attracted market attention, accumulating 155 million DOGE, worth approximately 21.65 million USD, indicating an increase in investor confidence in DOGE. This bullish move has made the market more optimistic about the future trend of this meme coin. Currently, DOGE is in a bull market phase, mainly benefiting from Elon Musk's support for Donald Trump in the U.S. presidential election.
According to data from Polymarket, Trump's probability of winning has risen to 63.7%, which has increased market attention on DOGE. As the election approaches, this whale's large purchases have further propelled optimistic expectations for DOGE in the market. Despite this, the current price of DOGE is 0.1457 USD, down 2% for the day, but the weekly and monthly gains have reached 26% and 35%, respectively.
However, market sentiment towards DOGE remains uncertain. Data from Coinglass shows that Dogecoin futures open interest has decreased by 5.33% to 1.02 billion USD, but the trading volume of derivative financial products has increased by 8%, reaching 3.46 billion USD. Nevertheless, according to CoinGape's analysis, the price of DOGE is expected to reach 0.37 USD under a bullish trend, especially as the rising 50-day moving average indicates strong short-term momentum.
