âWow!â Dogecoin co-founderâs unexpected reaction to 1.4 billion DOGE purchase
In an unexpected turn of events in the crypto space, a recent post on X claimed that a whale purchased a whopping 1.4 billion Dogecoin (DOGE) tokens on Saturday. Notably, the recent purchase amounts to $173.1 million at current DOGE prices.
This purchase also caught the attention of Dogecoin founder âBilly Markus,â also known by the nickname âShibetoshi Nakamoto.â Shortly after the information was made public by cryptocurrency analyst âAli Martinez,â the Dogecoin creator responded eloquently on X with a âwat,â adding more attention to the purchase, as many wondered about the reason for this significant transaction.
It is worth noting that what is interesting about the recent purchase is its similarity to the one reported on X by Ali Martinez on Thursday, where various whales also collectively acquired more than 1.4 billion DOGE in a short period of 48 hours. This figure of DOGE tokens was valued at $140 million dollars, according to the quote at that time.
According to experts, the recent buying spree calls for a closer look to see if the reported transaction is a single large purchase or the result of multiple whales coordinating their purchases.
On the other hand, the recent actions of whales could greatly influence price trends and investor sentiment. This is because the massive purchase of DOGE tokens generates strong speculations about the motivations behind such large investments and their possible effects on the crypto ecosystem.
Worldcoin: This week's highlights
Dogecoin continues its bullish streak
It is worth noting that according to experts, the popular memecoin DOGE, driven by this wave of large-scale transactions, is showing impressive performance, with a 15% increase during this week. In addition, Dogecoin has also managed to overcome important technical resistances, in particular a breakout of the âRelative Strength Indexâ (RSI), according to Ali Martinez.
Furthermore, Martinez also highlighted on X that Dogecoin is currently flashing a buy signal from the âSuper Trend Indicator,â suggesting that investors may be viewing the cryptocurrency positively.
Currently, the daily rating of the popular âDoge Fear and Greedâ index for the DOGE memecoin is positive.
On the other hand, Dogecoin miners are also playing their part in this bullish dynamic, which could lead to a real explosion in the price of DOGE.
Over the past 56 days, Dogecoin miners have accumulated approximately 280 million DOGE tokens. This massive accumulation, valued at around $34 million, shows that crypto miners prefer to hold on to their assets rather than selling them right away.
It is important to note that the reduction in selling pressure from Dogecoin miners is an encouraging development for DOGE holders. If this trend continues, it could boost investor confidence, attracting new buyers to the crypto market and potentially boosting the popular token exponentially.
For reference, crypto analyst TradingShot noted on X mid-month that DOGE could be on the cusp of a parabolic rally. According to his analysis, the token could reach a price of $2 by August 2025, representing a 1,600% increase from its current value.
However, it is important to note that the cryptocurrency market remains volatile and investment decisions should be made with great caution.
