Dogecoin Whales On The Move: Transactions Surge More Than 50% Amid ETF Speculation

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	19,354,166,205	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

19,354,166,205

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00167	-1.22%	0.13499	0.13499	0.135

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00167

-1.22%

0.13499

0.135

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.13659	0.13491	0.13653	0.13666	0.055786 - 0.228990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.13659

0.13491

0.13653

0.13666

0.055786 - 0.228990

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	05:09:01	1,467.10	0.13499	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

05:09:01

1,467.10

0.13499

USD

Price x Volume	Volume	Base Symbol	Related Pairs
2,542,860.77	18,741,671.70	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

2,542,860.77

18,741,671.70

Dogecoin Whales On The Move: Transactions Surge More Than 50% Amid ETF Speculation

23/05/2024 1:00am

NEWSBTC

Dogecoin (DOGE), a meme-inspired crypto, has recently experienced a significant surge in activity from large-scale investors, commonly known as “whales.” Recent data shows that the value of substantial transactions has nearly doubled in the last 24 hours. Related Reading: Dogecoin Bulls On The Rise: Analyst Highlight Path To $0.2 Dogecoin Transactions Soar As ETF Speculation Intensifies According to data from IntoTheBlock, the value of these large transactions exceeding $100,000 has significantly increased within the past 24 hours. This dramatic increase saw the total value surge from $1.53 billion to roughly $3.01 billion. Concurrently, the volume of DOGE transferred by these whales expanded from 9.74 billion to 17.97 billion DOGE coins, indicating a marked uptick in investor engagement and movement within the Dogecoin ecosystem. This significant uptick in whale transactions coincides with mounting speculation in the crypto community regarding the potential approval of a Dogecoin ETF. The enthusiasm around a possible Ethereum ETF has sparked conversations about DOGE being the next cryptocurrency to have its exchange-traded fund. Amidst the rumors, a notable post by a crypto enthusiast, Vee, on X suggested that Dogecoin’s non-security status and widespread adoption make it an ideal candidate for an ETF. The post highlighted the dual-edged nature of traditional financial institutions’ interest in Dogecoin, ironically pointing out both the potential benefits and drawbacks. a dogecoin etf would be amusing — Shibetoshi Nakamoto (@BillyM2k) May 21, 2024 Billy Markus, a co-creator of Dogecoin, humorously commented on the speculation, noting that a Dogecoin ETF would be “amusing.” This sentiment reflects DOGE’s light-hearted origin but doesn’t detract from its serious investment potential, highlighted by recent market trends. Dogecoin is following the global crypto market’s uptrend, with an 11.2% increase over the past week. However, in the last 24 hours, the increase has been a modest 0.7%, with the crypto trading at $0.168. Technical Analysis Of DOGE And Future Prospects Analysts are watching Dogecoin closely. A prominent crypto analyst, Ali, noted that DOGE is nearing a critical resistance level, suggesting potential upward movement soon. Related Reading: Dogecoin Forms Symmetrical Triangle, Rally On The Horizon? His observations are based on DOGE’s breakout from a descending triangle pattern, a sign that often indicates a shift toward bullish market behavior. Now, in 2024, #DOGE has yet again broken out of a descending triangle! It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next $DOGE bull run! pic.twitter.com/ZmuHmvIwei — Ali (@ali_charts) May 1, 2024 Another Crypto Daily Trade Signals analyst identified a symmetrical triangle pattern in DOGE’s price movements, reinforcing the potential for continued growth. This analysis places immediate resistance near $0.15950; a mark DOGE has recently surpassed, pointing to further resistance at $0.16980 and $0.18440. Featured image from Dall-E, Chart from TradingView

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DOGEUSD Dogecoin