CandleFocus Dogecoin (DOGE) Large Holders Scoop 708 Million Coins, Target Double-Digit Gains
2024-09-09
Author: Content Editor
Elon Musk's mysterious tweet mentioning "D.O.G.E" has caused a 9% increase in the value of Dogecoin (DOGE). Large holders of DOGE have been accumulating more coins, with the netflow of whale addresses spiking by 832% over the past week. This accumulation by whales often prompts retail investors to follow suit, indicating a bullish trend. The sentiment towards DOGE has turned positive, with the majority of social media mentions and discussions being optimistic. Technical indicators such as the Chaikin Money Flow and On-Balance Volume also suggest a rising price for DOGE. If the buying momentum continues, DOGE could see a further increase of 22%, but if whale accumulation slows, the value of the coin may drop.
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