- Whales buy DOGE in record time, accumulating 60M in 24 hours
- DOGE’s price rose 10.32% in the previous week, bringing market value to $17.6B
- In the last 24 hours, the price has decreased by 2.40% to $0.1217
- The RSI of DOGE is 42.64, and a bullish trend can be assumed
Dogecoin is breaking records. In the past 24 hours, 60 million DOGE has filled the whales’ wallets.
This is even though the price of DOGE has experienced a 1.2% drop over the past 30 days, which may not have deterred whales but only pointed them to the opportunity to buy more favorably.
Over the last week, the price has risen 10.32%, raising its market capitalization to $17.6B. The last massive purchase obviously gave it solid support.
And yet we see the price falling 2.40% in the last 24 hours, first to $0.1203 and later leveling off to $0.1217.
What Does This Look Like?
Let’s look at all these dynamics on the chart. We can see a Bullish Reversal Pattern, which probably shows that we have already reached the bottom of a downtrend, and we can probably expect further accumulation. Also, Dogecoin RSI, which stands at 42.64, may indicate a bullish trend.
So, it is evident that the trend on meme coins is holding, and the attention economy we are in today gives them additional value.
Maybe when DOGE reaches even greater popularity, it will also be included as an asset that works and has practical applications.
For example, Elon Musk, who was the original reason for Dogecoin’s popularity, said he would include it as a means of payment in X.
However, it is too early to say whether it will become a means of payment on X or even beyond. We will closely watch its growth and scale.
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