Crypto whales have made significant moves in the Dogecoin market, acquiring over 1.4 billion DOGE within just two days. Analyst Ali Martinez shared a chart from Santiment, highlighting this activity. In fiat terms, these purchases amount to around $140 million. This accumulation of the original meme coin has captured attention, signaling increased interest among large investors.
DOGE Reaches Key Market Milestones
Dogecoin has achieved other notable milestones recently. Its trading volume saw a significant surge, exceeding $1 billion. Additionally, the coin’s Open Interest (OI) increased by 2.24%, reaching $530.78 million. These indicators reflect heightened market activity surrounding DOGE.
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Martinez also referenced data from IntoTheBlock, indicating that DOGE surpassed a crucial resistance level at $0.111. At this level, more than 62,000 addresses collectively hold over 36 billion DOGE. Should Dogecoin sustain this position, it could signal a bullish breakout.
Martinez commented, “With no major supply walls in sight, the path to $0.150 looks clear.” As of now, Dogecoin is trading at $0.1153, marking a 5.7% increase in the last 24 hours.
Dogecoin Co-Creator Shuts Down Rumors
Amid the surge in DOGE activity, co-founder Billy Markus, also known as Shibetoshi Nakamoto, addressed various rumors in an informal “ask me anything” session on social media. He firmly denied claims that he had created or worked on any cryptocurrencies after co-founding Dogecoin in 2013 with Jackson Palmer. Markus clarified, “Anything claiming I am affiliated is lying.”
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During the session, Markus also dismissed speculation that he is Bitcoin’s mysterious creator, Satoshi Nakamoto. Furthermore, he corrected misinformation regarding Ethereum. Markus pointed out that no token could have been created on the Ethereum network in 2013 since the blockchain itself did not exist until 2015.
Dogecoin’s recent performance, combined with Markus’s comments, has sparked further interest and speculation in the crypto community.
