Crypto Whales Load Dogecoin (DOGE) Worth $640,500,000 in Just Two Days, Analyst Says

On By Littum

Deep-pocketed, digital asset investors are gobbling up huge amounts of the leading meme token Dogecoin (DOGE).

Trader Ali Martinez tells his 116,800 followers on social media platform X that while retail investors are being distracted by the recently launched Official Trump (TRUMP) memecoin, crypto whales are strong accumulated DOGE worth $640.5 million in just two days.

“While Everyone Focuses on TRUMP, Whales Bought 1.83 Billion Dogecoin DOGE in (48 Hours!)”

Picture
Source: Ali Martinez/X

At the time of writing, DOGE is trading at $0.35.

Looking at TRUMP himself, Martinez predicts that the memecoin will rise above $50 if it clears the diagonal resistance of a descending wedge pattern.

A descending wedge structure is often seen as a bullish reversal pattern as it suggests that selling pressure is losing momentum.

“TRUMP appears to be forming a descending wedge on the lower time frames, suggesting a potential consolidation towards the top before a rebound to $54.”

Picture
Source: Ali Martinez/X

At the time of writing, TRUMP is worth $32.48.

As for the Solana (SOL)-based meme token dogwifhat (WIF), the trader believes the altcoin is moving inside a large parallel channel – a pattern that suggests the asset is in a sideways trend as it respects both the support and resistance levels.

With WIF trading near the pattern’s $1.35 support level, Martinez believes it’s almost time for the altcoin to trigger rallies.

“We could see further consolidation around the lower boundary of the channel before a rebound towards $5!”

Picture
Source: Ali Martinez/X

At the time of writing, WIF is worth $1.37.

Don’t miss a beat – Subscribe to get email notifications delivered straight to your inbox

Check price action

Follow us further X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their 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 cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney