Dogecoin Whales Buy 310 Million in Two Days: Are Dog Coins like Maxi Doge Exploding?
Crypto prices are down this week, but smart money whales are going shopping - and Dogecoin is top of their lists.
On-chain data shows institutional wallets quietly accumulated 310 million $DOGE in 48 hours, underlining the fact that the current dip may be an excellent buying opportunity, rather than a cause for concern.
Launching amidst this dip is another dog coin called Maxi Doge, an all-or-nothing ‘gym bro’ Dogecoin alternative.
It’s currently undergoing a presale, having raised over $220,000 in its opening 72 hours. Is this another sign that the dog coin meta is back?
Whales Accumulate 310 Million $DOGE
Top crypto analyst Ali Martinez referenced data from market intelligence app Santiment, which shows that whales accumulated 310 million $DOGE following the selloff this week.
Although the analyst did not provide additional commentary, it appears to be a clear sign that smart money is brushing off the bearish sentiment and looking ahead to brighter times.
Currently trading at $0.1989, Dogecoin is down 3% today and 16% this week, yet it remains up 14% this month and 70% this year. Despite the short-term dip, whales are accumulating $DOGE amidst a higher-time-frame bullish setup.
One week earlier, Bitcoin mining company Bit Origin announced that they’ve accumulated 40 million $DOGE for their treasury, another indication of brewing whale interest.
Long-Term Support Level Signals $1 Pump Ahead
Just days ago, altcoin market sentiment was highly bullish, traders eagerly awaited the next leg up, and analysts were eyeing Dogecoin’s ATH after several top altcoins had broken theirs.
But the crypto market has a short-term bias. The fresh tariffs that Trump imposed on Thursday, coupled with hotter-than-expected inflation data, led many bulls to rethink their positions.
This created intense selling pressure for $DOGE and most other risk assets, but the continued institutional Dogecoin demand signifies that smart money isn’t sweating.
Look at the $DOGE price chart and you’ll see why – it’s currently trading at a key long-term trendline support level. As highlighted by analyst Galaxy, $DOGE trades at the lower boundary of a broadening wedge pattern.
The analyst says that $DOGE is “primed” to pump, with his chart indicating that the next leg up could extend to $1.
While macroeconomic jitters are spiking fear across risk markets, smart money players who’ve been here 1,000 times are grabbing the opportunity with both hands. Beyond Dogecoin, we’ve also tracked notable whale activity taking place in the emerging dog-themed meme coin Maxi Doge.
The project’s presale has surged past $220,000 in its opening three days, an impressive feat given its lack of a track record and the current market climate. Could this be next to explode?
Analyst Backs Maxi Doge for 100x Rally as Presale Surges
Maxi Doge is the unapologetic and raw version of Dogecoin that’s targeting degens.
It’s not the smiley-faced, ‘to-the-moon’ people’s crypto like the original Dogecoin; it’s the tren-maxxing, pump-chasing, 1,000x leverage bro that’s on a revenge arc after being sidelined for the biggest meme coin pumps since 2017.
If you’re a new meme coin investor, locked-in degen, or gym bro, this is for you. It’s something new and fresh in the dogecoin-verse, which is precisely why it’s off to a fast start.
In addition to raising over $220,000 in its first three days, Maxi Doge has begun attracting the attention of heavyweight analysts. For example, RJ from the Cryptonews YouTube channel backed it for 100x gains.
With the project’s current early stage and viral potential, there’s a possibility for bigger returns than with more established meme coins like Dogecoin – that’s why RJ is so bullish.
Maxi Doge also has plans to integrate $MAXI into futures platforms, allowing users to trade it with 100x or even 1,000x leverage.
Indeed, leveraged trading isn’t for everyone, but it’s a clear example of how Maxi Doge is thinking ahead and aiming to evolve beyond a normal meme coin. This is the hallmark of a project with real growth potential.
This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.
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