Dogecoin has achieved another historic milestone, as Dogecoin whales recorded their largest accumulation week since January 2024.Over 2.1 billion DOGE tokens were purchased during this period, underscoring the resurgence of interest and renewed confidence in the doggy-themed meme coin among prominent large-scale investors. Dogecoin Whales Set New Accumulation Record Over the past week, Dogecoin whales have been on a significant accumulation trend, buying more DOGE tokens than ever since the beginning of this year, when the positive sentiment surrounding meme coins was high.
The meme coins trading volume is up by 30.95% while its market cap has climbed to $22.12 billion, securing its position as the 8th largest cryptocurrency. DOGE TD Sequential Flashes Buy Signal While Dogecoin whales are on a significant accumulation spree, crypto analyst Ali Martinez has unveiled a new technical indicator signaling a change in market sentiment.
Given the immense influence these so-called whales can have on a cryptocurrency, market experts carefully monitor their trades and movements to gauge the potential impacts on price trends and overall market dynamics. In the case of Dogecoin, data from CoinMarketCap reveals that the price of the meme coin has increased by 6.01% over the past week.
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