Is Dogecoin about to take off? 😱🚀 2.2 billion swept up by whales in March, rebound is imminent!
Dogecoin (DOGE) had a rollercoaster market in March, with prices soaring from $0.14 to nearly $0.25, now stabilizing at $0.17, having dropped 25% in 30 days. But whales are unfazed, aggressively accumulating, preparing to stir up big waves?
Whale Buying: $37 million dumped
X user Ali Martinez revealed that by the end of March, whales net bought 220 million DOGE, approximately $37 million! They currently hold 10.52 billion coins, accounting for 7% of the circulating supply. Big players buying up reduces market supply; if demand heats up, price pressure will rise sharply. This operation also exudes confidence, possibly attracting retail investors to follow suit and boost valuations.
Musk “douses cold water”
Musk’s takeover of the U.S. “Department of Efficiency (DOGE)” once sent the crypto community into a frenzy, after all, he is a staunch Dogecoin supporter. But recently he stated: the government has no intention of using DOGE, “it’s just a coincidence in name, the goal is a 15% increase in efficiency.” Bullish expectations fell flat and will need other sparks to ignite the market.
ETF to the rescue?
Spot DOGE ETF emerges as a new hope! Grayscale, Bitwise, and Osprey Funds have applied for launch, with nearly a 70% chance of approval before the end of the year. If approved, institutional funds may flood in, driving up prices.
Data Overview
Price: $0.17, 30-day drop of 25%.
Whale purchase: 220 million DOGE, $37 million.
Holding: 10.52 billion coins, accounting for 7%.
ETF probability: below 70%.
Whales are firing on all cylinders, whether Musk supports it or not, if the ETF materializes, is a Dogecoin rebound far off? Get on board quickly!
Dogecoin (DOGE) had a rollercoaster market in March, with prices soaring from $0.14 to nearly $0.25, now stabilizing at $0.17, having dropped 25% in 30 days. But whales are unfazed, aggressively accumulating, preparing to stir up big waves?
Whale Buying: $37 million dumped
X user Ali Martinez revealed that by the end of March, whales net bought 220 million DOGE, approximately $37 million! They currently hold 10.52 billion coins, accounting for 7% of the circulating supply. Big players buying up reduces market supply; if demand heats up, price pressure will rise sharply. This operation also exudes confidence, possibly attracting retail investors to follow suit and boost valuations.
Musk “douses cold water”
Musk’s takeover of the U.S. “Department of Efficiency (DOGE)” once sent the crypto community into a frenzy, after all, he is a staunch Dogecoin supporter. But recently he stated: the government has no intention of using DOGE, “it’s just a coincidence in name, the goal is a 15% increase in efficiency.” Bullish expectations fell flat and will need other sparks to ignite the market.
ETF to the rescue?
Spot DOGE ETF emerges as a new hope! Grayscale, Bitwise, and Osprey Funds have applied for launch, with nearly a 70% chance of approval before the end of the year. If approved, institutional funds may flood in, driving up prices.
Data Overview
Price: $0.17, 30-day drop of 25%.
Whale purchase: 220 million DOGE, $37 million.
Holding: 10.52 billion coins, accounting for 7%.
ETF probability: below 70%.
Whales are firing on all cylinders, whether Musk supports it or not, if the ETF materializes, is a Dogecoin rebound far off? Get on board quickly!
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DOGE
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