Crypto Whales Loaded $640,500,000 Worth of Dogecoin (DOGE) in Just Two Days, Analyst Says
Wealthy digital asset investors are snapping up massive amounts of leading meme token Dogecoin (DOGE).
Trader Ali Martinez tells his 116,800 followers on social media platform Accumulated DOGE reaches $640.5 million in value in just two days.
“While everyone is focused on Trump, whales bought 1.83 billion DOGE in… [48 hours!]”
At the time of writing, DOGE is trading for $0.35.
Looking at Trump himself, Martinez He predicts The memecoin will rise above $50 if it breaks the diagonal resistance of the falling wedge pattern.
The falling wedge structure is often viewed as a bullish reversal pattern because it indicates that selling pressure is losing momentum.
“Trump appears to be forming a falling wedge on lower time frames, suggesting a potential consolidation towards the top before a rebound to $54.”
At the time of writing, Trump is worth $32.48.
As for the Solana (SOL)-based meme token (WIF), the trader believes that the altcoin is moving within a large parallel channel – a pattern that indicates that the asset is in a sideways trend as it respects support and resistance levels.
With WIF trading near the pattern support level at $1.35, Martinez believes it is almost time for altcoins to spark rallies.
“We could see more consolidation around the lower end of the channel before a rally towards $5!”
At the time of writing, WIF is worth $1.37.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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