On-chain data shows that these whales have regained their confidence in Dogecoin and are accumulating more DOGE ahead of a potential rally for the meme coin. Related Reading: 6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod Dogecoin Whale Accumulation Spikes By 868% Data from the on-chain analytics platform IntoTheBlock shows that Dogecoin whales bought 364.38 million DOGE on July 10, representing an 868% surge from the previous day when these large holders offloaded 37.05 million DOGE.
Bitcoin Halving Points to Potential Boom, Analyst Reveals Crypto analyst Andrew Kang also recently made a bullish case for Dogecoin, stating that meme coins like DOGE account for most altcoins that are likely to make new highs by the end of this year or the beginning of 2025.
The analyst had previously predicted that Dogecoin could rise to as high as $3 in this market cycle. Not Looking Good But About To Get Better Crypto analyst Altcoin Sherpa recently admitted that things aren’t looking too good for Dogecoin at the moment but added that the meme coin will do "big numbers” later this year.
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