Dogecoin (DOGE) Hits Crucial Point on Chart: Analyst

Dogecoin Price Poised at a Critical Juncture

Cryptocurrency analyst Jake Wujastyk predicts a pivotal moment for Dogecoin's price trajectory. As per a screenshot shared by Wujastyk, the meme coin has reached a "make or break" point, signaling either a significant decline or a surge upwards.

Over the past 24 hours, Dogecoin has experienced an impressive 8.3% surge, hovering around $0.12537 at the time of writing.

Large-Scale Whale Activity

Data from on-chain data provider IntoTheBlock reveals a notable increase in Dogecoin transactions. Over the past 24 hours, anonymous whales have transferred approximately $1 billion worth of Dogecoin, with individual transactions exceeding $100,000.

This surge in activity suggests increased involvement from financial institutions, who are actively buying and selling DOGE.

Overall Volume Spike

The overall transaction volume of Dogecoin has witnessed a 37% increase to 8.45 billion DOGE within the past 24 hours. This increase reflects heightened activity among investors, underscoring the coin's potential.