🔥💥Dogecoin Price Prediction: Will Whale Activity Drive DOGE to $0.5?

#Dogecoin price prediction: DOGE, a leading meme-based cryptocurrency, has shown a significant surge recently. The Dogecoin price is currently at $0.1559, reflecting a 2.06% increase over the last day. This rise has brought the market capitalization to $22.51 billion, ranking it eighth in terms of market cap among cryptocurrencies.

Despite a 14.18% decrease in trading volume over the past 24 hours, with $1.01 billion traded, DOGE’s volume-to-market cap ratio stands at 4.62%. The circulating supply of Dogecoin remains at 144.34 billion #DOGE , with the total and maximum supply also at the same figure.

Dogecoin Price Prediction: Recent Surge and Market Performance

The meme coin Dogecoin has recently seen a price resurgence following a prolonged period of minimal activity. In recent trading, Dogecoin’s price fluctuated significantly, ranging from $0.1364 to $0.1587. This volatility resulted in an 8% surge in its value over the past week.

Despite struggling to gain momentum over the past month, Dogecoin experienced a bullish trend with a more than 10% increase, indicating a potential shift towards a sustained positive trajectory.

Whale Movements and Market Impact

Dogecoin saw significant movement today as an unknown whale transferred 120 million DOGE tokens to Robinhood, according to Whale Alert. The on-chain data indicated the tokens, valued at $18.55 million, were dumped by the address DDuXG.

This transfer aligns with a recent rise in DOGE’s price, hinting at potential profit-taking by the wallet owner. Additionally, investigations revealed that this same address had previously accumulated 226 million DOGE from Robinhood last month. The substantial transfer underscores active trading and significant liquidity movements in the DOGE market.

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