According to U.Today, cryptocurrency analyst Jake Wujastyk recently shared his insights on the potential future price movement of Dogecoin. Wujastyk suggested that Dogecoin has reached a critical point where its price could either plummet or soar significantly.
In the past 24 hours, Dogecoin, the original meme-inspired cryptocurrency, has seen a notable price increase of more than 8.3%, reaching the $0.12537 level. This surge in price has been accompanied by a significant increase in activity from financial institutions, which have begun buying and selling Dogecoin at a faster rate than before.
On-chain data provider IntoTheBlock reported that an impressive $1 billion worth of Dogecoin has been moved by anonymous whales in the last 24 hours. These large transactions were each worth a minimum of $100,000. This increase in activity has resulted in the overall transaction volume of Dogecoin surging to 8.45 billion DOGE, representing an increase of 37%.
