Dogecoin Sees Increased Whale Movement as DOGE Netflow Rises to 123M

DOGE Netflow Soars as Investors Turn Bullish on Meme Coin

Lately, Dogecoin (DOGE) has seen a lot of activity on-chain, indicating that investors in cryptocurrencies are feeling more positive about the well-liked meme coin with a dog theme. In comparison to prior days, a lot more DOGE has been moving into the wallets of huge holders in the recent 24 hours, as evidenced by IntoTheBlock’s large holder’s netflow measure. Consequently, throughout the period under consideration, the netflow increased dramatically from 7.4 million to 123.03 million DOGE.

Dogecoin Golden Cross Nears for First Time in 4 Years, Sparking Investor Optimism

Major investors may be getting ready to make some significant acquisitions, as is sometimes the case during market downturns, based on the rise in activity. This tendency is consistent with past patterns, suggesting that purchasing activity was higher during price troughs. The fact that fewer coins are being removed from their wallets provides more proof of this trend. This change indicates that these investors believe Dogecoin has enormous growth potential going forward.

Another indication that people are positive about Dogecoin is this accumulation by significant participants. According to U.Today, the meme coin is on the verge of making its first golden cross in more than four years. The bullish sentiment is frequently observed in this technical pattern, which is the crossing of a short-term moving average above a long-term one.

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