According to a reputable analytics company, whales are stocking up on Dogecoin (DOGE) as the dominant memecoin shows signs of separating itself from the rest of the cryptocurrency markets.
According to market intelligence firm Santiment, huge addresses holding over 10,000,000 DOGE of Dogecoin, sometimes known as “whales,” are currently in the process of buying up large stacks of the main meme cryptocurrency.
Santiment reports that over the course of the past three months, dogecoin whales have increased their portfolios by a total of 1,470,000,000 DOGE. Additionally, the analytics group notes that Dogecoin might be showing early signs of outperforming the cryptocurrency markets.
“Dogecoin has showed some moderate decoupling symptoms this weekend with a +9% gain in the past 24 hours while the majority of cryptocurrencies are flat,” the author writes. According to the data provided by Santiment Feed, addresses that possess 10 million Dogecoin or more have amassed 1.47 billion coins since January 1 that are worth a total of $123.1 million.
In the midst of the accumulation of Dogecoin whales, the well-known cryptocurrency strategist Kaleo has informed the 571,600 people who follow him on Twitter that DOGE is likely getting ready for a strong surge after managing to break through the diagonal resistance that was present on the lower timeframe.
“DOGE is officially breaking out across a number of different timelines. Quickly set the price to fifteen cents.” At the time of this writing, one dogecoin can be purchased for 0.095 dollars. Any movement in the direction of Kaleo’s target price of $0.15 indicates an upside potential of roughly 57%.
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