DOGE Whales Surging After Buying 1.4 Billion DOGE for $140 Million

With the purchase of 1.4 million DOGE for over $140 million, Dogecoin (DOGE) whales have returned to the cryptocurrency market. The crypto world has taken notice of this massive purchase, suggesting a positive turnaround for the meme currency.

Doge Whales Grab 1.4 Million DOGE

Crypto expert Ali Martinez said on X (formerly Twitter) that Dogecoin whale activity is on the rise. Martinez said that a group of Dogecoin whales have purchased around 1.4 billion DOGE coins worth $140 million.

In his detailed chart of Dogecoin whale transaction volumes, he indicated that 1.4 billion DOGE were purchased in 72 hours. This surge in whale activity shows increased investor interest in Dogecoin.

DOGE has seen tremendous whale activity since the year, accumulating hundreds of millions of tokens. After a strong price rally in favorable market conditions, the meme coin has shown signs of a bullish run. According to CoinMarketCap, DOGE has risen more than 22% in the past month, suggesting a significant rebound for the meme currency. Recent price movements after a period of depreciation may have prompted Dogecoin whales to accumulate quickly.

With most whale transactions having the potential to impact the market, continued accumulation of DOGE by large investors could have a significant impact on the cryptocurrency’s value. Dogecoin’s 24-hour trading volume has surged by 122.36%, indicating a favorable change in investor sentiment towards the joke currency.

DOGE Price Fundamentals Remain Strong

Dogecoin’s price fundamentals remain strong despite whale activity as the meme currency has seen rapid gains. According to CoinMarketCap, Dogecoin’s price has surged by 10.63% in 24 hours.

The cryptocurrency has seen significant gains in the past week, but the reason for the sharp price jump is unknown. DOGE has surged by 14.05% in the past week to $0.121.

Martinez also said that Dogecoin’s price is “strong,” noting its relative strength index (RSI) and the price’s breakout from months-long downtrends.#DOGEBTCProdictedNewATH#BTCReboundsAfterFOMC$DOGE