DOGE whale bets $145 million to buy Dogecoin, what's next?
This breakthrough and bullish trend emerged ahead of former U.S. President Donald Trump's scheduled inauguration on January 20, 2024. During this breakthrough, the whale purchased 400 million DOGE.
Blockchain transaction tracker Whale Alert announced on X (formerly Twitter) that a cryptocurrency giant transferred 400 million DOGE worth $144.97 million from Binance to an unknown wallet.
This massive withdrawal was executed by the whale as the meme coin broke out of its consolidation phase. Apart from this recent significant purchase, today's price surge indicates that investors may be liquidating their holdings, possibly to realize profits, as revealed by on-chain analytics firm Coinglass.
Spot inflow/outflow data shows that exchanges witnessed outflows of DOGE worth $35.35 million in the past 24 hours. This marks the first significant influx of funds to exchanges since December 11, 2024, during which investors and long-term holders seem to have accumulated DOGE during the market downturn.
Dogecoin (DOGE) technical analysis and upcoming levels According to expert technical analysis, DOGE has shown an upward momentum following its recent consolidation breakout and is expected to continue climbing. Based on recent price trends and historical patterns, it is highly likely to surge 22% in the coming days, reaching $0.47.
On the positive side, DOGE's Relative Strength Index (RSI) is currently below the overbought territory, indicating that the meme coin has enough room to sustain its upward momentum.
Currently, DOGE's trading price is near $0.382, with an increase of over 12% in the past 24 hours. During the same period, its trading volume surged by 95%, indicating an increase in the participation of traders and investors compared to previous days.
