Whale Transfers 330 Million DOGE: Price Continues to Surge

Whale Transfers 330 Million DOGE: Price Continues to Surge?

The Dogecoin whales have been consistently active, with over 300 million coins changing hands today, fueling speculation as the price of DOGE surged.


According to Whale Alert, 333.1 million DOGEcoins have been transferred in the past 24 hours, stemming from two significant transactions. One transaction involved a transfer out, while the other transaction accumulated DOGEcoin from Robinhood, a prominent trading platform in the United States.
The first transaction, involving 250 million tokens valued at $49.49 million, was sent from an unidentified address to Robinhood, while the second transaction comprised 83.10 million DOGEcoins accumulated by an unidentified address from the same trading platform. This has sparked speculation regarding the divergent psychology among whales regarding this asset, although market sentiment typically reflects increasing interest from whales in Dogecoin.

Dogecoin has witnessed a significant increase of 8.25% in the past 24 hours, currently trading at $0.2. Surpassing the $0.2 mark further solidifies the bullish stance of the meme coin in the market.

Related: Elon Musk Continues to Promote Dogecoin

Meanwhile, analyst Rekt Capital has noted the upward price volatility of Dogecoin. The meme coin successfully retested a long-term downtrend and then surged by 55%. This sets the stage for price appreciation for DOGE, along with another market uptrend.
Following the observed price increase of DOGE, the token has formed a bullish chart pattern, the Bull Flag. The price has broken out above this flag, indicating the potential continuation of this uptrend.