- Dogecoin whales have bought 200 million DOGE since May 30, despite the price falling from $0.16 to $0.15.
- Analyst Ali Martinez cites a 47% price correction and anticipates a potential DOGE bull run.
- Elon Musk’s comments may have influenced whale activity, with significant DOGE accumulations stirring market speculation.
Crypto analyst Ali Martinez alerted market participants to significant whale transactions over the past seven days. In a recent X post, Martinez revealed that Dogecoin whales have bought an additional 200 million Doge since May 30.
The analyst used insights from Santiment, an on-chain analytics platform focusing on market and whale data, to explain the whale activity. He posted a Santiment chart displaying Dogecoin’s price trend and volume movement.
#Dogecoin whales have bought an additional 200 million $DOGE since May 30! pic.twitter.com/gjeoGWMM4R— Ali (@ali_charts) June 4, 2024
According to the chart, Doge’s price dropped over the past seven days despite higher transaction volume. DOGE’s accumulated volume rose from 30.17B to 31.16B, while its price fell from $0.16 to $0.15 over the same period.
Further details from TradingView …
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