'Massive Amount Of Older DOGE Moving': Dogecoin Whales Awaken As 1M+ Wallets Keep Growing
Portfolio Pulse from Mehab Qureshi
A crypto analytical firm reported that dormant Dogecoin (DOGE) tokens are becoming active, with 121 new wallets holding over 1 million DOGE each appearing in the past month. This activity is seen as a sign of significant investor interest. Additionally, a crypto trader and analyst, Tony 'The Bull', identified a technical signal that may indicate an upcoming rally for DOGE, referencing a pattern that previously preceded a 23,000% rally. Currently, DOGE is trading at $0.075, up 2.11% in the last 24 hours.
November 23, 2023 | 12:03 pm
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Dormant Dogecoin tokens are becoming active, and the number of large DOGE wallets is increasing, which could indicate growing investor interest and potentially lead to a price rally.
The movement of dormant tokens and the increase in large DOGE wallets suggest a heightened interest from investors, which could lead to increased buying pressure and a potential price rally. The historical reference to a previous rally following a similar technical signal adds to the bullish sentiment. However, the volatile nature of cryptocurrencies and the speculative basis of such predictions introduce some uncertainty to the analysis.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100