đ„Highlightsđ„
â Dogecoin whale accumulations spark market optimism as nearly half-a-billion coins were purchased recently.
â The significant buying pressure underscores potential for further growth, accompanied by broader bullish events.
â Top analyst anticipates a 9000% rally in the coin ahead based on historical trends.
Dogecoin whale accumulations rose substantially in recent days, indicating that DOGE price eyes 9000% gains amid broader bullish events..
Amid a highly bullish DOGE market witnessed recently, Dogecoin whalesâ action to heavily accumulate the token has garnered significant attention among traders and investors globally. On-chain data indicates over 500 million coins were bought from crypto exchanges, signaling increased market confidence in the assetâs long-term prospects. In the wake of this market statistic amid a bull market, crypto watchers anticipate a staggering 9000% gain in the dog-themed coinâs price ahead.
đ„Dogecoin Whale Accumulation Spikes As Over 500M Coins Bought Recentlyđ„
As per an X post by the renowned crypto market analyst Ali Martinez on November 21, Dogecoin whales bagged over 550 million tokens, worth $214.5 million, from crypto exchanges over the past week. This massive purchase has put significant buying pressure on the asset, pointing out the potential for considerable upside movement ahead.
Notably, the leading dog-themed meme crypto already surfs bullish tides, primarily attributable to the broader market events. Mainly, with Elon Muskâs taking the D.O.G.E. (Department of Government Efficiency) role under Donald Trumpâs cabinet, market sentiments surrounding the meme coin have turned highly bullish.
Aligning with this endeavor, a recent CoinGape Media report reveals that D.O.G.E leads Elon Musk and Vivek Ramaswamy further outlined a strategy to reduce the federal workforce under Trumpâs presidency. This saga garnered significant attention to the meme coin which is also much touted by Musk. Itâs noteworthy that Elon and Vivek are also starting a podcast named âdogecast.â These chronicles, in turn, bring substantial attention to Dogecoin.
Simultaneously, in light of these broader events and the massive buying pressure brought by whales, market watchers foresee a phenomenal rally ahead.
đ„DOGE To Soar 9000% Ahead?đ„
At press time, DOGE price gained slightly by 0.5% intraday and is resting at $0.387, amid a surge in Dogecoin whale activity. The coinâs 24-hour low and high were $0.3666 and $0.3956, respectively. Notably, the monthly chart for the meme coin showcases gains worth 173%. This bullish movement has sparked further investor curiosity despite the recent turbulent performance.
Notably, leading crypto analyst Ali Martinez further spotlights that for DOGE to finally witness a 9,000% parabolic rally, 40% to 50% corrections are sure to be expected. This bullish projection rides the back of historical trends, as the meme coin witnessed a 9,470% pump in 2017 with two major corrections of 40% and another at 84%. In addition, recent on-chain data also indicates a potential rally for top meme coins like DOGE, SHIB, and others, in the coming days.
Subsequently, the coin skyrocketed 30,700% in 2021, seeing two key pullbacks of 46% and 53%. These statements indicate substantial potential for Dogecoin to pump ahead in the light of a broader bull meme coin market, further accompanied by massive whale accumulations.
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