Dogecoin users are witnessing a sudden surge in network activity, gaining the attention of investors and analysts.

Increase in Network Activity

Popular on-chain strategist Ali Martinez shared with his 73,400 followers on the social media platform X about the rise in the number of large transactions on the Dogecoin network. This indicates that institutional players and DOGE whales might be positioning themselves in the market.

Large Investments and Whales

Last week saw large DOGE purchases, including over $100 million worth bought in a single day. This could be positive signs for Dogecoin's future performance.

Market Expectations

Martinez believes that Dogecoin could replicate the massive rallies seen in 2017 and 2020, potentially surpassing its all-time high of $0.7316 and reaching $2. Currently, Dogecoin is trading at around $0.113, reflecting an increase of over 2% in the last 24 hours. There is speculation of a significant rally on the horizon amid rising transaction volumes and substantial whale purchases.

The increase in Dogecoin network activity and the involvement of large investors could herald significant market changes. There is hope for a potential upward trend among market participants.