Dogecoin (DOGE) Skyrockets $812 Million in 24 Hours of Bullish Whale Activity

Whale Activity Propels Dogecoin (DOGE)

Over the past 24 hours, Dogecoin (DOGE) has experienced a surge in on-chain whale activity, with the volume of large transactions exceeding $812 million. This represents an increase of 83.53% and 113.6% compared to the previous two days, respectively.

Whales transacted a total of 8.1 billion DOGE coins, a 74.56% increase in the last 24 hours.

Large transactions, defined as those exceeding $100,000, accounted for 898 instances during the review period. The average whale transaction was 9,020,044 DOGE coins, or $905,178.17.

Factors Attracting Whales

The recent whale activity can be attributed to several factors.

• Rising Price: Since the start of the week, DOGE has gained over 6.5%.
• Falling Wedge Pattern: A falling wedge pattern has emerged on the price chart, indicating potential for a significant increase.

Bullish Outlook

The combination of bullish whale activity and the falling wedge pattern suggests a positive outlook for Dogecoin in the near term. However, as always, the future is uncertain, and only time will tell how high the price will rise.