Whale Activity Surges as Dogecoin Records Massive Purchases
By: cointurk|2025/05/12 03:45:05
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The popular altcoin Dogecoin $ 0.232454 (DOGE) has resurfaced on the radar of large investors. On-chain data reveals that big players have acquired over 600 million DOGE in the last 48 hours. This accumulation coincides with Bitcoin $ 104,599 ‘s recent rally, surpassing the $100,000 threshold and momentarily reaching $106,000, marking a new peak since January. Dogecoin has capitalized on this market momentum, experiencing an approximate 35% value increase over the past week. Whales Acquire Over 600 Million DOGE Coins in 48 Hours The resurgence in the cryptocurrency market has sparked significant interest from major investors in Dogecoin. According to analyst Ali Martinez, whales have purchased over 600 million DOGE since Friday. At current prices, this amount equates to a value of over $140 million. This wave of purchases parallels Bitcoin’s renewed vigor in the bull market. As Bitcoin’s price surged past $104,000, Dogecoin extended its daily gains to $0.259. This rise signals strong momentum forming within a short period. Current Dogecoin Price and Technical Analysis Dogecoin’s price increased by 2.26% over 24 hours, reaching $0.2334. Following a three-day upward trend, occasional drops erased previous losses. This weekly performance positioned Dogecoin as the second-highest gainer after Ethereum (ETH) $ 2,506 . Regarding open interest, the collateral amount in Dogecoin futures increased by 9.84% within 24 hours, reaching $2.85 billion. According to CoinGlass data, this level denotes an unprecedented rise since mid-February. Currently, the DOGE price is encountering resistance at $0.259. The daily 200-day simple moving average (SMA 200) near $0.265 presents a critical barrier. Buyers are on standby to surpass this hurdle. In case of potential pullbacks, support is near the daily 50-day simple moving average (SMA 50). If momentum slows, Dogecoin may trade sideways between SMA 50 and SMA 200 for some time.
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