Dogecoin's explosive surge is imminent, whales and institutional giants are frantically buying!
Dogecoin, this particularly popular meme token, has not seen much price movement recently, but everyone is guessing that it might skyrocket soon. Why is that? There are several reasons.
Firstly, those big players, namely whales and institutions, have recently bought a lot of Dogecoin, with large transaction volumes increasing by 42%. It's as if the big bosses believe that this asset will be profitable in the future, so they are starting to stock up now.
Then, from a technical perspective, Dogecoin's price trend also seems to be preparing for an upward surge. Although it is currently fluctuating within a small range, as long as it can break through the $0.38 barrier, there is a possibility it will jump 15% and reach $0.45. If it goes even stronger and breaks above $0.45, it might even reach $0.57!
Moreover, it's not just technical analysis saying this; on-chain data also shows that people believe Dogecoin will rise. For example, on Binance, there are many more people wanting to buy Dogecoin than those wanting to sell, and this ratio is the highest since October of this year.
Currently, Dogecoin's price is about $0.37, having risen 4.15% in the last 24 hours. Both buyers and sellers have increased, and it looks like everyone is quite excited.
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