Dogecoin’s Price Rise Imminent as This On-Chain Metric Becomes Increasingly Bullish

2023-11-24 13:00

Dogecoin analysts have spotted an intriguing on-chain trend that signals potential institutional and whale accumulation. According to trusted Twitter crypto expert Ali, transactions exceeding $100,000 in value have seen substantial month-on-month growth to reach consistent new highs lately.

Intensified Large Transactions

As Ali highlights, these outsized $100,000+ Dogecoin transfers predominantly represent movements by larger players like crypto hedge funds or high-net-worth individuals. Therefore, their swelling volume indicates amplified buy-side interest likely in anticipation of a significant upside.

Essentially, hot money is flowing into Dogecoin from entities known to spark price rallies when allocating capital at scale. If these deep-pocketed investors expect Dogecoin to break higher, it greatly bolsters the probability of an imminent surge.

Timing The Next Leg Up

Of course, on-chain analytics provide insights on investor intent rather than concrete directional outlooks. But stacking these data-driven signals paints a compelling picture of ripening conditions prime for Dogecoin’s next major markup.

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If demand continues ascending while availability constricts, basic economics suggests overdue price discovery becomes inevitable. With Dogecoin already consolidating around key support, its technical posture looks geared for a high-conviction liftoff once the pockets of whale accumulation translate into actual exchange inflows.

For Doge believers, these early rumblings on-chain may crystallize into a deafening blastoff in short order.CopyRetry

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The post Dogecoin’s Price Rise Imminent as This On-Chain Metric Becomes Increasingly Bullish appeared first on CaptainAltcoin.

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Dogecoin (DOGE) на Currencies.ru

$ 0.1529 (+0.30%)
Объем 24H $1.091b
Изменеия 24h: 4.90 %, 7d: 15.64 %
Cегодня L: $0.1504 - H: $0.1534
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Цена в час новости $ 0.0779329 (96.19%)

on-chain dogecoin exceeding 100 transactions trusted ali

Источник: captainaltcoin.com

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