Dogecoin Surges as Whales Grab Massive 750M Coins Amid 21% Drop
- Musks Vision: He wants the U.S. Treasury on the blockchain, sparking Dogecoin community interest.
- DOGEs Drop: It fell 21% in a week but saw major whale accumulation (750M DOGE).
- February Outlook: Analysts predict a mild recovery, with DOGE possibly reaching $0.2580.
Dogecoin remains a hot topic as the crypto market never rests. Prices surge and tumble while governments and firms monitor developments. Amid this, Elon Musk is stirring discussions again, pushing for the U.S. Treasury to adopt blockchain, igniting excitement within the Dogecoin community.
Elon Musk believes blockchain can improve financial systems. Hes urging the U.S. government to move its treasury operations onto a decentralized ledger. The idea? Transparency, efficiency, and trust.
Dogecoin holders took notice. They flooded Musks social media, urging him to consider the DOGE blockchain. The meme coins loyal army believes it could serve as a base for such a radical shift.
Amid the excitement, DOGE faced a brutal week. The asset dropped 21% in seven days. It traded at $0.3398 before falling to $0.2251. At its peak this month, it hit $0.4335. But as of now, DOGE sits at $0.2598, slipping 2.50% in 24 hours.
Dogecoin Whales Take Advantage
Ali Martinez, a respected crypto analyst, noted whale activity. During the price drop, big players seized the moment. They scooped up 750 million DOGE. The markets faith in Dogecoin remains strong.
Over the past week, Dogecoin has experienced a sharp 21% decline, pulling back from its monthly high of $0.4335. Currently, the meme coin is trading at $0.2598. Despite the drop, large investors remain active, accumulating a staggering 750 million DOGE, signaling continued confidence in the assets long-term potential.
The numbers tell a clear story. Despite the losses, major investors still believe in Dogecoins potential.
Looking ahead, the market remains volatile. Analysts predict DOGE will trade near $0.2375 by mid-February. The highest estimate? $0.2580. This means a slight recovery from current levels, but not a breakout. The community remains hopeful. If whales keep accumulating, sentiment could shift fast.
Dogecoin is in the spotlight. Musks blockchain push, whale accumulation, and price swings keep traders on edge. Will the U.S. Treasury take the leap? Will DOGE find its place in the mix?
Read more: https://www.tronweekly.com/dogecoin-surges-whales-grab-750m-coins-21-drop/
Text source: TronWeekly
