Whales have recently accumulated 560 million Dogecoin (DOGE) following a sell-off, indicating renewed interest in the cryptocurrency. Despite this, DOGE's price dropped by over 7% in the past week. Nevertheless, its daily trading volume increased by 27.24%, reflecting growing on-chain activity. Crypto analyst KrissPax predicts that DOGE will break out of an ascending triangle pattern and surpass $0.34. Grayscale Investments has also introduced the Grayscale Dogecoin Trust, offering institutional investors exposure to DOGE and showcasing a broader interest in memecoins beyond retail investments. This launch could enhance DOGE's credibility and potentially attract further institutional investments. With the introduction of new investment products and Grayscale's strategic bet on memecoins, the liquidity, market stability, and price of DOGE could be influenced.



Other News from Today