Whales buy $130M DOGE amid 32% Rise
The post Whales buy $130M DOGE amid 32% Rise appeared on BitcoinEthereumNews.com. Dogecoin price hit a 24-hour timeframe peak of $0.16 on Thursday, May 16, bringing DOGE’s growth performance for the month to 32%, with recent activities among whale investors capable of driving another leg-up. DOGE Surges 32% in May amid Bullish Catalysts from Tesla, Gamestop Dogecoin price struggled for momentum in the first half of May 2024. However, this week, the bull traders appear to have seized control of the DOGE markets. At the time of writing, DOGE is trading at $0.16, up 32% for the month. Dogecoin price action Dogecoin’s positive price performance in May could be majorly attributed to emerging bullish factors surrounding Elon Musk’s Tesla and the resurgent Gamestop rally. Reports surrounding Tesla sparked the first wave of the Dogecoin price rally. Notably, prominent crypto community figure Crypto Rand called attention to Tesla’s acceptance of DOGE as payment method for its merchandise. The media personality disclosed this as a recent move, but it in fact occurred two years ago, as The Crypto Basic confirmed. However, amid the ruckus triggered by this disclosure, Dogecoin price rose to a 20-day peak of $0.17 on May 7. But, by May 12, the bulls had succumbed to a 15% correction as the broader crypto markets slipped into a week-long recess. Interestingly, this week, DOGE’s latest price breakout has coincided with the resurgent Gamestop saga which has led to a parallel bullish retail activity in the crypto memecoin markets. Whale Investors Have Acquired 820M DOGE in May 2024 At the time of writing, DOGE has rebounded above 0.15%, erasing last week’s losses. While retail campaign surrounding Gamestop has dominated crypto media headlines, on-chain data shows whale investors have been aping into the Dogecoin rally behind the scenes. – Advertisement – The Santiment chart below presents cumulative balances held in whale wallets with a…
The post Whales buy $130M DOGE amid 32% Rise appeared on BitcoinEthereumNews.com.
Dogecoin price hit a 24-hour timeframe peak of $0.16 on Thursday, May 16, bringing DOGE’s growth performance for the month to 32%, with recent activities among whale investors capable of driving another leg-up. DOGE Surges 32% in May amid Bullish Catalysts from Tesla, Gamestop Dogecoin price struggled for momentum in the first half of May 2024. However, this week, the bull traders appear to have seized control of the DOGE markets. At the time of writing, DOGE is trading at $0.16, up 32% for the month. Dogecoin price action Dogecoin’s positive price performance in May could be majorly attributed to emerging bullish factors surrounding Elon Musk’s Tesla and the resurgent Gamestop rally. Reports surrounding Tesla sparked the first wave of the Dogecoin price rally. Notably, prominent crypto community figure Crypto Rand called attention to Tesla’s acceptance of DOGE as payment method for its merchandise. The media personality disclosed this as a recent move, but it in fact occurred two years ago, as The Crypto Basic confirmed. However, amid the ruckus triggered by this disclosure, Dogecoin price rose to a 20-day peak of $0.17 on May 7. But, by May 12, the bulls had succumbed to a 15% correction as the broader crypto markets slipped into a week-long recess. Interestingly, this week, DOGE’s latest price breakout has coincided with the resurgent Gamestop saga which has led to a parallel bullish retail activity in the crypto memecoin markets. Whale Investors Have Acquired 820M DOGE in May 2024 At the time of writing, DOGE has rebounded above 0.15%, erasing last week’s losses. While retail campaign surrounding Gamestop has dominated crypto media headlines, on-chain data shows whale investors have been aping into the Dogecoin rally behind the scenes. – Advertisement – The Santiment chart below presents cumulative balances held in whale wallets with a…
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