Crypto Whales Load Up $640,500,000 Worth of Dogecoin (DOGE) in Just Two Days, Says Analyst

In recent days, wealthy digital asset investors have been acquiring large quantities of the popular meme token Dogecoin (DOGE).

Analyst Ali Martinez shared with his 116,800 followers on X that while retail investors are paying attention to the newly launched Official Trump (TRUMP) memecoin, crypto whales have been aggressively accumulating DOGE, amassing $640.5 million worth in just 48 hours.

“While everyone is focused on TRUMP, whales have purchased 1.83 billion Dogecoin DOGE in just 48 hours!”

As of now, DOGE is trading at $0.35.

Regarding TRUMP, Martinez predicts that the memecoin could surpass $50 if it breaks the diagonal resistance of a falling wedge pattern.

A falling wedge formation is typically seen as a bullish reversal pattern, indicating that selling pressure is diminishing.

“TRUMP appears to be forming a falling wedge on lower time frames, hinting at potential consolidation towards the apex before a rally to $54.”

Currently, TRUMP is valued at $32.48.

Regarding the Solana (SOL)-based meme token dogwifhat (WIF), Martinez believes the altcoin is trading within a large parallel channel, indicating a sideways trend as it respects both support and resistance levels.

With WIF trading near the support level of $1.35 in the pattern, Martinez anticipates an upcoming rally for the altcoin.

“We might witness further consolidation around the lower boundary of the channel before a surge towards $5!”