In a significant turn of events, <a href="https://www.cryptoknowmics.com/news/shiba-inu-coin-vs-dogecoin-a-battle-of-memes-and-cryptocurrencies/">Dogecoin</a> (DOGE), the popular meme coin, is carving its niche in the institutional trading arena, evident from a noteworthy surge in transaction values on its Proof-of-Work (PoW) blockchain. Renowned market analysts have observed a parabolic increase in large transactions involving Dogecoin over the past month, indicating a heightened interest from crypto whales and institutional investors.

[embed]https://twitter.com/itsALLrisky/status/1727904259121795232[/embed]

Over the last seven days alone, Dogecoin has processed an impressive $2.92 billion in transactions exceeding $100,000. This surge in transaction values is seen as a clear indication of growing participation from crypto sharks and institutional players. Notably, trader Ali Martinez suggests that the accumulation of DOGE by whales during this phase is a strong indicator of their anticipation of a significant price spike for Dogecoin.
<h2>Dogecoin Whales Resurface: 121 New Million-Dollar Holders Emerge, Prompting Price Speculation</h2>
[embed]https://twitter.com/santimentfeed/status/1727394869193421035[/embed]

Santiment, a blockchain analytics firm, has reported the emergence of a flurry of new Dogecoin whales, with 121 new cryptocurrency addresses holding over $1 million worth of DOGE appearing in the last 30 days. Simultaneously, dormant Dogecoin whales, previously inactive for years, have started moving their holdings. Such activity often acts as a catalyst for sharp changes in the cryptocurrency's price direction. The last instance of such movement occurred in June 2023 when Dogecoin faced a similar price range. Back then, DOGE eventually broke through the $0.08 mark in July but faced resistance at the hefty resistance line after retesting the confluent resistance twice.

[embed]https://twitter.com/cryptodailyTS/status/1728024293320331678[/embed]

As of the latest update, Dogecoin is trading at $0.07717, reflecting a 2% gain in the last 24 hours. Positioned as the 10th-ranked cryptocurrency by global market capitalization, DOGE is now poised to retest the $0.08 resistance level. The market awaits the outcome of this potential breakthrough, given the notable institutional interest and the movement of dormant whales in the Dogecoin ecosystem.

DOGE Targets $0.10 as Whales Stir Millions

Watch Dogecoin's ascent as dormant whales make strategic moves, fueling the push towards the $0.10 mark. Stay tuned for the latest DOGE developments! 🚀 #DOGE #CryptoNews

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

DOGE Targets $0.10 as Whales Stir Millions

Top Picks