Dogecoin 'Whales Have Bought 25M DOGE In Three Days' Says Crypto Chart Analyst Ali Martinez: What's Going On With The Meme Coin Leader?

Meme Coin board leader Dogecoin DOGE/USD is pushing boundaries with a 6% single-day gain amid whale movements and optimistic traders' outlook.

What Happened: Crypto technical chart analyst Ali Martinez in a tweet indicated Dogecoin whales acquired 25 million DOGE in the past three days, valued at $3.75 million. The chart below highlighted price and whale movements.

IntoTheBlock data highlighted transactions higher than $1 million spiked 600% in the past 30 days, as reported by CoinGape. Meanwhile, large transaction volumes increased by 92.8% to $5.29 billion, while daily active addresses were up by 13.5% to 199,190.

Also Read: Crypto Analyst Sees Dogecoin Reaching Half A Dollar Soon, Says ‘DOGE Has Plenty More Left In The Tank’

Why It Matters: In the past 24 hours of trading, Dogecoin witnessed a 6% gain, pushing its monthly gains higher to 80%. It has left Shiba Inu behind in single-day gains and trading volumes. The meme coin is riding on the optimism of Coinbase Derivatives intending to introduce cash-settled futures contracts for Dogecoin, with prices marked at $0.15, Litecoin at $85.20, and Bitcoin Cash at $413. It aims for an April 1 rollout.

A swing trader, Honey, pointed out Dogecoin has been in accumulation for two years, and it will be noteworthy to see, "What happens when this breaks out."

Heavily followed meme coin trader, Cold Blooded Shiller tweeted, "Fun doesn’t begin on DOGE till >$0.25."

While optimism surrounds the Dogecoin community, the turn in the meme coin price will be interesting amidst its high correlation (0.96) with Bitcoin prices.

Read Next: Dogecoin Whale Transactions Surge 93% As 7% Price Drop Leaves Traders Unfazed: ‘Strong Times Ahead’

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