Dogecoin Whales Accumulate 2B DOGE in a Week, Analyst Predicts 200% Rally
- Barbara StreisandOriginal
- 2024-10-08 01:20:10247browse
On-chain data agency IntoTheBlock has published an important chart, which shows a curve of Dogecoin accumulation by large cryptocurrency holders.
Large cryptocurrency holders have accumulated more than two billion Dogecoin over the past week, according to data from on-chain agency IntoTheBlock.
This marks the largest accumulation by big Dogecoin whales since January this year, the data shows.
The curve shows that the billions of DOGE were acquired between Sept. 30 and Oct. 5.
DOGE may rally 200%, analyst believes
Crypto analyst Ali Martinez believes that the largest meme cryptocurrency is showing high odds of breaking out and staging a bull run. Before that, DOGE may rally 200% first and then roll back by 60%.
It all will happen, Martinez stated, if history repeats itself for Dogecoin. Currently, the asset seems to be breaking out of its multi-year descending triangle pattern. This has happened before and might be happening now, the analyst wrote in the tweet.
He pointed out that DOGE has already faced a 65% pullback recently, and now “$DOGE could be gearing up for the next big rally!”
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