CandleFocus

Dogecoin Skyrockets 1,856% in Netflows as Whales Trigger Massive Moves

Dogecoin (DOGE) has experienced a significant increase in price and large holder netflows in the past week. The cryptocurrency rose by almost 29% and saw a surge of 1,856% in netflows, indicating accumulation from major players. This positive sentiment surrounding Dogecoin's price allowed it to outperform other top cryptocurrencies. The attention on Dogecoin increased due to discussions about meme coins and a tweet by Elon Musk. However, DOGE is currently facing profit-taking and is down by 1.45% in the last 24 hours. The cryptocurrency has crossed $0.14 and may target $0.17 and $0.19 next. Dogecoin is now the eighth largest digital asset with a market cap of $20.83 billion. Originally created as a joke, Dogecoin has evolved into a serious cryptocurrency during the recent boom in crypto prices.

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