Dogecoin has been experiencing a surge in network activity, with a record-breaking 60 billion large transactions in the past 24 hours. This increase in volume is attributed to significant moves by large holders or whales, indicating heightened interest from significant investors. Such whale movement suggests anticipated price movement. The on-chain data suggests a change in sentiment towards Dogecoin, which has led to increased volatility. The recent price rally, reaching $0.40, signifies a resurgence of interest in DOGE, potentially driven by larger market rallies and increased social media activity. Dogecoin has surpassed previous resistance levels and rising volumes support the price surge. It is anticipated that DOGE may attempt to break through additional resistance levels at $0.45 with steady demand and ongoing whale support. However, the future growth of Dogecoin is uncertain as it is influenced by social sentiment and the activities of large holders. Caution is advised despite the recent spike in transaction volume and price, and traders should be mindful of stability above new support levels due to Dogecoin's history of abrupt corrections.



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