The cryptocurrency market is witnessing a revival, with Dogecoin exemplifying this growth. The activity of large traders and whales has notably increased over the past ten days.
Rise in Dogecoin Price
In recent days, the price of Dogecoin has significantly surged, reaching a peak not seen in over two months. This spike followed a test of the support level at $0.19, after which DOGE soared past $0.25. Since its bottom on June 23, the price has risen more than 80%.
Whale Activity in the Market
Data shared by Ali Martinez indicates that large Dogecoin holders have increased their holdings by over 1.08 billion coins within just 48 hours, valued at over $250 million. This significant accumulation coincides with the notable price surge of DOGE.
Future Prospects for Dogecoin
Analysts suggest that Dogecoin is poised for further upward movement, provided it remains above the critical support level of $0.20. Expectations are that it could reach $0.36 or even $0.54 if the current trend continues.
In summary, the activity of major traders and positive market trends point to a potential continuation of Dogecoin's growth. If the price maintains its current levels, it could pave the way for new opportunities for the cryptocurrency.
