While more recent liquidity would be expected DOGE price crashThe Dogecoin whale has embraced the downturn as a major opportunity. Seeing the dip as an opportunity for low market entry, it Whales now buy large amounts of Dogecoin270 million purchases were recorded with the latest transactions.
Dogecoin whale 270 million DOGE scoop
The recent decline in Dogecoin’s price has prompted large-scale investors, commonly referred to as “whales,” to amass more tokens. Famous crypto analyst Ali Martinez revealed in an X (formerly Twitter). post On Tuesday that Dogecoin whales bought 270 million DOGE tokens in the last five days.
This massive 270 million DOGE purchase is part of a wider accumulation trend seen across the meme coin network. Since November, Martinez has recorded Whale is buying millions of DOGE During the fall.
On December 21, the analyst expressed That the Dogecoin whale had bought 250 million DOGE during this time The recent market decline. The bold move was made as investors saw DOGE’s decline as an opportune entry point, a behavior often associated with more prominent players who buy tokens at low prices in hopes of long-term gains.
Recently DOGE Buying spree by whales May indicate strong belief in the future of the coin. Martinez also expressed optimism in the price prospects of the meme coin, to highlight In the previous X post that DOGE could experience another parabolic rally to a $20 ATH.
While bullish sentiment for DOGE price remains strongDogecoin whales are taking advantage of current market conditions and driving prices down Increase your holdings And prepare for a potential rally. The price of Dogecoin is currently trading at $0.33, with the recent 270 million DOGE purchase worth about $89 million.
A repeat of the pattern could see the price of DOGE reach $5
Crypto Analyst Trader Tardigrade has presented A chart showing a recurring historical trend pattern in Dogecoin price movement. Analysts suggest that a repeat of this historical trend a Parabolic rally for Dogecoin.
The red curved lines in the chart highlight the round consolidation phases of DOGE in different cycles, while the green ascending lines underline a stable bullish trend. Each consolidation period in the chart has led to a significant rally, where the Dogecoin price explodes at the end of the trend.
Based on recurring historical patterns, DOGE appears to be breaking out Fresh integration phaseThis indicates that a potential breakout could be on the horizon. Trader Tardigrade predicts that the breakout could push prices as high as $5, marking New all-time high for DOGE.
At the time of writing, Dogecoin is trading at $0.33, representing a 3.5% increase in the last 24 hours. A $5 increase would require the meme coin to post a 1,415% increase from its current price.
Featured image created with Dall.E, chart from Tradingview.com
