Dogecoin (Doge) whales have purchased 110 million Doge with the opportunity to decline in the latest price. These purchases of major investors increase the expectations of rise in the market, while analysts point to a possible price explosion. So, what’s next to Dogge?
Whales made intensive purchases from $ 0.25 dollars!
According to the data shared by crypto analyst Ali Martinez, whales have purchased 110 million doge in the last two days. The purchases concentrated at the level of $ 0.25 and showed that the region could be a strong support point.
On the other hand, the fact that whales do not sell at this level and continue their purchases gives a powerful signal that Doge can rise in the future. Investors think that whale movements often come before the big price movements.
Dogecoin ETF expectation heats the market!
Behind the interest of whales in Doge, there may also be a possible Dogecoin ETF approval. The US SEC recently adopted Grayscale’s application for DOME ETF. This development can facilitate the access of major corporate investors to Doge and provide a new entry of billions of dollars to the market.
However, the Dogge price decreased by 6 %in the last week. However, seeing the fall of whales as an opportunity to buy the fall strengthened the bull expectations in the market. If ETF approval comes, it may be inevitable for a large price jump for Dogge.
Is a big break in the Doga price?
The Dogge price is consolidated in recent days at the level of $ 0.25, and according to analysts, a major break may be experienced soon. Technical indicators show that Doge creates a symmetrical triangular formation. This formation usually occurs before a large price movement. Analyst Trader Tardigrade predicts that if the Dogr price completes this formation, it can start a strong bull run. In addition, another analyst named Altcoin Scholar says that the level of $ 0.22 is a strong support zone, and the probability of rising as long as the price remains above this level is strong.
According to the data we follow as kriptokoin.com, whale purchases and ETF expectations create a critical period for the cost of the dog. If the market remains positive, a new bull run for Dogecoin can be at the door!
