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The entire cryptocurrency market was painted red, and the OG meme cryptocurrency Dogecoin (DOGE) wasn’t spared either. The asset’s journey towards $0.20 was disrupted as it dipped to a low of $0.106. At press time, the asset was trading around the same level, with a 4.11% drop over the past 24 hours. Also Read: Ripple: Here’s How To Be A Millionaire With XRP By 2028 Source Amidst this, IntoTheBlock revealed that Dogecoin whales were on a buying spree. These big buyers have purchased over 2 billion DOGE in the last week. This accumulation is worth $200 million based on the asset’s current price. This implies that major Dogecoin investors are putting their money on the meme coin’s potential recovery in a long-term manner. This indicates that they believe there is a chance for a significant increase. In the past, whale investments in Dogecoin have frequently signaled an impending price spike. In addition, the community sentiment of Dogecoin remained positive. CoinMarketCap’s Community Sen

CryptoQuant CEO Ki Yong Ju notes that whale s carefully prepared for the growth of the crypto market at the end of 2023. He shared his observations about what steps large investors take in a thread shared on X. What #Bitcoin whale s did before this bull run: Thread — Ki Young Ju (@ki_young_ju) December 4, 2023 According to Ju, whale s recently opened the bulk of long positions when Bitcoin (BTC) reached $29,000. The accumulation phase, according to his observations, started in early Aug. 2023. At the same time, many whale s began to enter the market when BTC reached a cyclical low against the backdrop of the collapse of the FTX crypto exchange in Nov. 2022. This, in his opinion, is indicated by the increase in cryptocurrency transfers to derivative trading platforms during the indicated period. You might also like: Bitcoin breaks above $40k, Bitcoin ETF Token raises nearly $2.5m A surge in whale activity in the United States occurred in Oct. 2023. This is indicated b

Bitcoin Price Stable Above $30k Post CPI Data Release Bitcoin price is trading 1.1% up to $30,295 on Thursday following the release of the CPI data, which impressed investors with inflation falling to its lowest annual level over two years in June. advertisement The CPI rose 3% from the previous year, marking the lowest it has gone since March 2021—and a drop from 4% a month ago. In comparison, goods and services increased by 0.2% month-over-month. The results, which the Fed will use in addition to another economic indicator to make the next decision on interest rates, triumphed Dow Jones’ estimates that the CPI would rise by 3.1% and 0.3%, respectively. US CPI chart chart courtesy of CNBC In June, the regulator paused interest rate hikes but remarked that further increases would be necessitated later in the year based on how the economy reacts. Recommended Articles