This month, whale investors have significantly increased their DOGE reserves, potentially signaling price growth for the asset.
Increase of DOGE Holdings Among Whale Investors
Since the start of August, addresses holding over 100 million DOGE have acquired more than 680 million tokens, bringing their total to 98.56 billion DOGE, the highest balance seen since December 1.
Current Market Status of Dogecoin
As of now, DOGE is trading at $0.2264, showing a significant increase but still 69% lower than its all-time high of $0.7076. Over the past week, it has risen 12%, despite a recent 3% drop. The current resistance level stands at $0.2407.
Future Growth Potential of DOGE
Crypto analyst Ali Martinez suggests that there is potential for DOGE to rise to $0.70 if it breaks the $0.36 mark. The anticipated approval of the first-ever Dogecoin ETF in the USA could also serve as a catalyst for asset growth.
Investor sentiment enhances the chances of Dogecoin's growth, and the prospect of ETF approval may positively impact prices. Interest in this asset remains high.
