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Dogecoin Whales Accumulate 708 Million Coins, Rally Imminent
The post Dogecoin Whales Accumulate 708 Million Coins, Rally Imminent appeared on BitcoinEthereumNews.com. Elon Musk’s cryptic “D.O.G.E” post on the social media platform X (formerly Twitter) on September 7 has sparked a surge in Dogecoin’s (DOGE) value. Since the post, the meme coin has seen a 9% increase in price. Whales have also ramped up their trading activity, positioning Dogecoin to potentially extend its recent gains. Dogecoin Whales Set Their Eyes on More Gains DOGE’s large holders have increased their coin accumulation following the price rebound that followed Musk’s “D.O.G.E” post. According to IntoTheBlock’s data, the meme coin’s large holders’ netflow has spiked by 832% over the past seven days. This represents an accumulation of 708 million DOGE coins worth over $69 million at current market prices. Dogecoin Large Holders’ Netflow. Source: IntoTheBlock DOGE large holders, or whale addresses controlling more than 0.1% of its circulating supply, play a crucial role in price movements. Their netflow, which tracks the difference between coins bought and sold over time, provides key insights. A spike in netflow signals increased accumulation by these whales, often prompting retail investors to follow suit, which is typically a bullish indicator. Since Elon Musk’s post, DOGE’s weighted sentiment has shifted from negative to positive. According to Santiment data, DOGE’s current weighted sentiment, a measure of market mood, sits at 0.59, reflecting growing optimism. Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know Dogecoin Weighted Sentiment. Source: Santiment When an asset’s weighted sentiment is positive, it indicates that the majority of social media mentions, news articles, and online discussions are bullish. DOGE Price Prediction: Double-Digit Gains on the Horizon Dogecoin’s rising price is supported by a surging Chaikin Money Flow (CMF), which measures money flow into the market. Currently in an uptrend at 0.08, the positive CMF indicates that buying pressure is outweighing selling activity. As the CMF rises, it…
The post Dogecoin Whales Accumulate 708 Million Coins, Rally Imminent appeared on BitcoinEthereumNews.com.
Elon Musk’s cryptic “D.O.G.E” post on the social media platform X (formerly Twitter) on September 7 has sparked a surge in Dogecoin’s (DOGE) value. Since the post, the meme coin has seen a 9% increase in price. Whales have also ramped up their trading activity, positioning Dogecoin to potentially extend its recent gains. Dogecoin Whales Set Their Eyes on More Gains DOGE’s large holders have increased their coin accumulation following the price rebound that followed Musk’s “D.O.G.E” post. According to IntoTheBlock’s data, the meme coin’s large holders’ netflow has spiked by 832% over the past seven days. This represents an accumulation of 708 million DOGE coins worth over $69 million at current market prices. Dogecoin Large Holders’ Netflow. Source: IntoTheBlock DOGE large holders, or whale addresses controlling more than 0.1% of its circulating supply, play a crucial role in price movements. Their netflow, which tracks the difference between coins bought and sold over time, provides key insights. A spike in netflow signals increased accumulation by these whales, often prompting retail investors to follow suit, which is typically a bullish indicator. Since Elon Musk’s post, DOGE’s weighted sentiment has shifted from negative to positive. According to Santiment data, DOGE’s current weighted sentiment, a measure of market mood, sits at 0.59, reflecting growing optimism. Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know Dogecoin Weighted Sentiment. Source: Santiment When an asset’s weighted sentiment is positive, it indicates that the majority of social media mentions, news articles, and online discussions are bullish. DOGE Price Prediction: Double-Digit Gains on the Horizon Dogecoin’s rising price is supported by a surging Chaikin Money Flow (CMF), which measures money flow into the market. Currently in an uptrend at 0.08, the positive CMF indicates that buying pressure is outweighing selling activity. As the CMF rises, it…
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