TL;DR
- The cryptocurrency market is showing signs of revival on Friday night, with many assets charting impressive gains, led by BTC.
- Dogecoin is also well in the green, which comes after a substantial accumulation spree by DOGE whales.
Dogecoin was once among the biggest beneficiaries of Donald Trump’s victory in the US elections, experiencing a sharp surge that nearly tripled its value to a multi-year peak of almost $0.5 within just a few months. However, the asset struggled to break past this level during subsequent market corrections and suffered a significant downturn over the past few months.
Earlier this week, the OG meme coin hit a five-month low of $0.13 amid escalating tensions in the trade war. Yet, DOGE displayed resilience, bouncing back past the $0.165 mark yesterday. Although it later retracted to below $0.15, it has since rallied above $0.16 after a daily surge of approximately 6%.
This latest price movement can be attributed to substantial buying activity from whales, who have amassed over 80 million DOGE tokens within a mere 24-hour window. Although this accumulation is not the largest single-day figure seen, it does indicate a bullish sentiment amidst ongoing price corrections.
The increased purchasing power of these large market participants effectively decreases the availability of tokens for immediate sale, possibly setting a precedent for smaller investors who typically look to follow the lead of whales.
Whales bought over 80 million #Dogecoin $DOGE in the last 24 hours! pic.twitter.com/2PmXS2iJRQ
— Ali (@ali_charts) April 11, 2025
In summary, the cryptocurrency market appears to be rebounding, with Dogecoin taking the lead thanks in part to the recent activities of notable investors. As always, market dynamics continue to evolve, and investors should remain vigilant over the coming days.
The post DOGE Price Moves as Dogecoin Whales Go on Buying Spree appeared first on CryptoPotato.
