Dogecoin, the most popular meme token (DOGE), is being devoured by deep-pocketed investors.
Trader Ali Martinez told his 116.800 followers via the social media platform X, that crypto whales accumulated DOGE in the amount of $640.50 million within just two days, while retail investors were distracted by the newly launched Official Trump memecoin (TRUMP).
Whales purchased 1.83 billion Dogecoins DOGE during the 48-hour period that everyone was focusing on Trump. ]”
DOGE currently trades for $0.35.
Martinez, looking at TRUMP as a whole predicts the memecoin’s surge to $50 once it breaks through the diagonal resistance in a falling wedge.
The falling wedge pattern is often seen as a bullish reversed pattern, as it indicates that the selling pressure has lost momentum.
As of the time this article was written, TRUMP’s value is $32.48.
The trader believes that Solana’s (SOL), based meme token, dogwifhat is following a parallel pattern. This suggests the asset has a sideways movement as it follows both support and resistance.
Martinez thinks that the time is almost right for WIF to start a rally. WIF has been trading near the $1.35 support level of the pattern.
As of the time this article was written, WIF’s value is $1.37.
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The information contained in this post Crypto whales load up $640,500,000 worth of Dogecoin DOGE (DOGE) within just two days, says analyst may change as new developments unfold.
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