Dogecoin Whale Transactions Rise Amid Bullish Market Sentiment

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Cryptodnes2024/08/10 07:45

By:Cryptodnes

Dogecoin is experiencing a surge in large transactions and positive price action, leading traders to predict a bullish future for the meme cryptocurrency.

Bitcoin analyst Cryptorphic noted that Dogecoin broke out of a long trading range with a significant surge in February 2024. The coin is currently above the 200-day EMA and fighting to stay above the 100-day EMA, signaling bullish momentum.

Dogecoin’s RSI is below 45, indicating room for growth. A weekly close above $0.11 could trigger a major rally, with some predictions suggesting a potential tenfold increase. Cryptorphic plans to hold and accumulate Dogecoin over the next six months.

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Elon Musk, a prominent Dogecoin supporter, might boost the coin’s visibility post-presidential election, potentially driving up its value.

IntoTheBlock reports a 36.3% rise in large transactions, a 1.5% increase in daily active addresses, and a 2,029.2% spike in exchange netflows. Despite price volatility, 70% of Dogecoin holders remain in profit.

These trends indicate a potentially strong future for Dogecoin, with increased activity and interest possibly leading to sustained growth.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bitcoin experienced a correction of over 30% in November 2025, falling from its all-time high of $126,198 to $85,328. The article analyzes this as a mid-bull market correction, with the bottom range likely between $78,000 and $84,000, and suggests buying the dip in batches. The next wave of growth is expected to be driven by factors such as pro-crypto policies from the Trump administration, the return of capital to spot ETFs, and post-halving supply shocks. The target price is projected to reach $200,000–$300,000 in 2026. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively improved.

MarsBit•2025/11/21 18:03