Dogecoin whales triggered excitation on the market Thursday with a significant increase in purchase activity, increasing 750 million DOGE tokens during a recent price drop.
This major purchase, highlighted by the chain dataCoincided with the fall of the memes coin below the $ 0.30 threshold, which prompted a lot to speculate on potential gains and a rebound on the market.
While the price went from $ 0.33 to $ 0.26 between the end of January and early February, these large -scale acquisitions per Mastiff Whales have fueled optimism among investors.
Whale purchases often report strong confidence from institutional actors, contributing to a global feeling of bubbleness about the future of Doge. Some analysts suggest that these whales can capitalize on a “buying down” strategy, betting on a recovery, because the wider cryptography market also faces volatility.
Although Doge is currently negotiating in a tight range, oscillating about $ 0.26, many market observers hope. This feeling is supported by the purchase activity, some traders making comparisons to a situation similar in the third quarter of 2024.
At the time, Dogecoin experienced a sharp drop followed by a massive rally which saw the price increase by more than 300% in a few weeks. With such predictions in the air, the recent whale activity has believed that prices overvoltage could be on the horizon.
