A significant transaction of about $90 million in fiat was discovered by the cryptocurrency tracking site Whale Alert and its bots on Binance, the biggest cryptocurrency trading platform in the world. Another well-known cryptocurrency exchange received another 500,000,000 DOGE.
This purchase happened the day after DOGE announced a significant price rise.
1.2 billion DOGE on the move
https://x.com/whale_alert/status/1763130117633491387?s=20
Remarkable quantities of 699,999,999 DOGE and 500,000,000 DOGE have been detected by the previously described data source and moved to prominent cryptocurrency trading platforms Binance and Robinhood. They totaled 1.2 billion Dogecoin when combined.
The first transfer had a $53,065,006 evaluation, while the second one had a $53,065,006 fiat value. Over the past 24 hours, Whale Alert has also detected a minor transfer containing 66,000,000 Dogecoin.
Given that big whales are starting to transfer their DOGE holdings to exchanges in order to lock in profits, the price of DOGE has surged by more than 42%, reaching $0.1. This might be an indication of an impending sell-off.
https://x.com/whale_alert/status/1762906477369467027?s=20
Dogecoin may go parabolic in April
The original meme cryptocurrency Dogecoin is repeating a pattern last seen during the bull market in 2021, the year Elon Musk dubbed himself “The DogeFather” on Twitter and endorsed DOGE on Saturday Night Live. This information was shared by well-known cryptocurrency analyst and trader on Twitter, Ali Martinez, earlier this week.
the May 8, when Bitcoin hit a record high of $63,000 in April of the same year, the DOGE price surged to an all-time high of $0.7376.
If history repeats itself, Martinez thinks Dogecoin may “enter a parabolic breakout” around April.
https://x.com/ali_charts/status/1762004965349113863?s=20
DOGE surge follows that of Bitcoin
All things considered, Dogecoin, the biggest meme cryptocurrency by market capitalization value, had an astounding surge in price of more than 42%, rising from $0.0948 to a local high of $0.1350. At this point, DOGE has somewhat reversed course and is trading at $0.1290.
Following the massive spike in the price of Bitcoin, several other cryptocurrencies, including Dogecoin, Ethereum, and XRP, have seen an abrupt boost in value. The leading cryptocurrency had a nearly 12% gain on Wednesday, surpassing the $64,000 mark, thanks to the spot BTC ETF providers’ consistent use of Bitcoin.
