Dogecoin whales accumulate in full market correction, bullish signal?

By Hannah Pérez

The data show that great Dogecoin holders are accumulating despite the price drop of 10% in the month. The support of a company affiliated with Trump and the expectation of ETF could be motivating purchases.

***

• Great Doge holders accumulate despite the 10% price drop in the memecoin in the month.
• The support of a company affiliated with Trump and the expectation of ETF could be motivating purchases.
• Dogecoin went up to USD $ 0.24 on Sunday but is now corrected with the rest of the crypto market.
• Can the whales boost the upward price in the short-median term?

---

The whales of Dogecoin (Doge) continue to accumulate despite the prices correction.

Dogecointhe popular Memecoin With canine theme, it has experienced a 4.1% drop in the last 24 hours, quoting USD $ 0.2116 at the time of writing, according to data from Coingcko. This decrease is aligned with a broader correction in the cryptographic market, with Bitcoin falling below USD $ 110,000 this Tuesday.

Despite this setback, which extends weekly Doge losses to 3.7% and monthly to 10.3%, large investors, known as “whales”, are actively accumulating cryptocurrency, suggesting a long -term upward feeling.

Data from Santiment They reveal that the average 50 days of transfers of Dogecoin valued at USD $ 100,000 or more reached its highest level in five months during August. In addition, the number of wallets that have between 1 and 10 million Doge grew from 33 to a total of 4,288 during the month, according to the news media on Tuesday Decrypt.

“These indicators indicate the accumulation by great players who see value in Dogecoin at their current levels“Shawn Young, chief analyst at Mexc Researchto Decrypt.

Despite security concerns derived from a possible 51% attack threat by Qubic, which generated sales among retail merchants in the middle of the month, whales have maintained their confidence.

Accumulation of Doge whales

Last week, a notable dynamic of accumulation by the whales of Dogecoinwhich promoted a V -shaped price recovery in the Memecoin From the minimum of USD $ 0.21 to USD $ 0.22, as reported COINDESK.

This activity was supported by an increase in the volume of transactions, with a peak of 9.29 million in the last hour of the session of August 20, marking a turning point in the price. During this period, whales accumulated more than 680 million Doge, counteracting the sales pressures of retail investors.

Doge resumed a local USD $ 0.24 on Sunday in the middle of a broader impulse in the market and prior to a remarkable back at the beginning of the week. The moderate comments of Jerome Powell of the Federal Reserve of the United States (FED) promoted prices on Friday, after suggesting a possible cut for interest rates in September. But now the market has become bassist.

Trump affiliated company inspires purchases

Whale purchases coincided with a company movement Thumzupbacked by the Trump family, to acquire the company specialized in cryptocurrency mining, Dogehash Technologiesdedicated to the extraction of Dogecoin.

Young stressed that the recent interest of the Trump family in the acquisition of Dogehashtogether with the pending application of a background listed in balls (ETF) of Dogecoin in cash by GrayscaleThey could be contributing to this activity. However, he added that “Whale wallet growth suggests something beyond the speculation driven by holders“

Dogecoindescribed by Young as a “Cultural Assets“, Has demonstrated resilience in the face of market falls, a characteristic that distinguishes it from other cryptocurrencies such as Bitcoin either Ethereum. Merchants are now observing whether the USD $ 0.22 level, which acted as resistance during recovery, can be consolidated as a support, opening the door to a rise beyond USD $ 0.24.

While the cryptocurrency market navigates this correction, the accumulation of whales and the institutional interest in Dogecoin they reinforce their relevance in the ecosystem of digital currencies. As investors evaluate the impact of developments, such as the potential launch of an ETF and the greatest regulatory tolerance, Dogecoin He could be preparing for a new bullish impulse.

---

Article written with the help of AI, edited by Diariobitcoin

Image of Unspash

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.