Whale Bergerak, Harga DOGE Melejit 10 Persen, Memecoin Siap Bersinar Lagi?

Dogecoin (DOGE) Surges on Whale Interest, Historic Pattern Adds Intrigue

Dogecoin (DOGE), the world's first memecoin, has recently experienced a significant price surge of over 10 percent in the past week. This surge comes amidst rising interest from large cryptocurrency investors, known as whales, indicating a growing focus on the meme coin.

Data from blockchain analytics firm IntoTheBlock shows a significant spike in whale transactions involving DOGE. These transactions, exceeding $100,000, have nearly doubled in a 24-hour period. This surge in activity is fueled by speculation surrounding the potential approval of an Ether exchange-traded fund (ETF).

Crypto Globe reports that, in addition to the increased number of transactions, the volume of DOGE moved by these whales has also seen a significant increase, rising from 9.74 billion to 17.97 billion DOGE in the same time frame.

This marked increase highlights the growing interest and activity from large investors in the Dogecoin market.

Dormant Dogecoin Whale Adds Intrigue

Adding further intrigue, a long-dormant Dogecoin whale holding 893,303 DOGE (approximately US$145,101) has moved its funds for the first time in nearly a decade.

The whale's first transaction since May 2014 involved transferring 23,338 DOGE, worth around US$4,000, to Binance, the world's largest cryptocurrency exchange. The whale still holds the vast majority of its DOGE, totaling 869,964 DOGE, worth over US$140,000.

Re-emergence of early investors often coincides with significant price changes. This recent transfer to Binance has sparked concerns about potential price volatility, as it could be a precursor to selling activity.

Historically, such movements have led to significant shifts in cryptocurrency prices, raising questions about the future direction of DOGE.

Chart Patterns and Future Speculation

Adding another layer to the ongoing speculation, DOGE has recently formed a chart pattern that suggests the cryptocurrency could be poised for a dramatic surge. The pattern is reminiscent of a similar formation that preceded DOGE's remarkable 23,000 percent price increase last year.

The pattern was identified by popular crypto analyst Ali Martinez, who noted that a descending triangle pattern has emerged on Dogecoin's weekly chart. The last occurrence of this pattern resulted in an extraordinary 23,200 percent rally.

This revelation has ignited speculation about whether Dogecoin could replicate a similar meteoric rise, with many investors eagerly watching the charts for signs of another significant upward move.