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DOGE Eyes 200% Surge, According to This Major Metric

Sat, 1/06/2024 – 8:10

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Cryptocurrency trader and analyst Ali Martinez (known on the X social media platform under the @ali_charts alias) believes that the original meme coin DOGE has high chances of printing an astounding price surge.

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Dogecoin may skyrocket by a whopping 200% as it happened in February, the analyst tweeted, since just like back then, market sentiment for this meme cryptocurrency is quite bearish.

DOGE soared to a $0.18 in early March, following the rise of Bitcoin when slightly more than a month passed after the approval of spot Bitcoin exchange-traded funds (ETFs) by the American Securities and Exchange Commission (SEC).

As if watching this metric too, whales have started moving massive amounts of Dogecoin. A lot of these transactions are marked as purchases.

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Roughly 1.5 billion DOGE on the move

The same analyst Ali Martinez tweeted yesterday that Dogecoin whales have accumulated more than 700 million Dogecoin within the last three days, sharing a chart to confirm that. This amount of meme coins is evaluated at approximately $112 million.

Aside from that, popular cryptocurrency tracker Whale Alert spotted massive amounts of Dogecoin getting transferred – four transactions show that roughly 1.5 billion DOGE have exchanged hands anonymously over the past two days.

The above-mentioned data source detected that within the last 48 hours 420,696,969, 970,000,000, and 499,420,696 DOGE were transferred between anonymous whales. 90,000,000 DOGE were withdrawn from the popular Robinhood crypto exchange to an unknown blockchain address. These 1.579 billion Dogecoin are valued at $251,410,009 at the time of this writing.

At press time, DOGE is changing hands at $0.15887. It has managed to rise by 2.89% after dropping 4.25% overnight.

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