#Doge🚀🚀🚀

Dogecoin whales spend $1 billion on Dogecoin, can it lead to a rebound?

Recently, social sentiment on the meme coin Dogecoin (DOGE) has been a bit bearish. You see, market indicators show that DOGE is testing an important resistance level. However, after a week of double-digit price drops, DOGE finally has some bullish momentum and the price has risen a bit. But the question is, can this rise continue?

At this time, Dogecoin whales took action!

DOGE has had a very ups and downs week, sometimes up and sometimes down.

According to CoinMarketCap, the price of DOGE has fallen by more than 13% in the past seven days. Fortunately, the past 24 hours have been quite investor-friendly, with the price rising by more than 3%. It is now trading at $1.077 and the market value has exceeded $15 billion.

But strangely, with this price increase, people have not talked about DOGE on social media. Data from Santiment shows that DOGE's social attention has decreased and investor sentiment has also been bearish.

When the price fluctuates, the Doge Whales are not idle. A cryptocurrency analyst named Ali said on Twitter that in the past 24 hours, the Doge Whales bought more than 1 billion DOGE, spending about $108.7 million. It seems that these big players are full of confidence in DOGE and think that the price will rise.

So is the price of DOGE really going to rise?

AMBCrypto looked at the situation of DOGE and wanted to find out whether the indicators really hinted at an increase. According to data from IntoTheBlock, DOGE's inflow has decreased recently, which means that the selling pressure is less, which may be a bullish signal.

However, other indicators are not so optimistic. For example, DOGE's MVRV ratio fell a lot last week, and the transaction speed was also slow. In other words, DOGE is used less frequently in transactions.

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After a few days of sharp decline, BTC, ETH, SOL, PEPE, SUI, DOGE, WIF, FET, AAVE, BNX should enter the market to ambush, otherwise you will miss this wave of bull market! If you are still hesitant and confused, come to me for layout, I will teach you