Dogecoin Whales Push for Liberation as They Scoop Up 60 Million DOGE Within 24 Hours

Large investors, often referred to as crypto whales, have drawn their attention toward the popular Dogecoin (DOGE) meme coin.

Major crypto investors, also known as crypto whales, have shown interest in the popular meme coin Dogecoin (DOGE). According to reports, over the last 24 hours, these whales have acquired nearly 60 million DOGE, which is valued at around $7.3 million, based on the current market price.

Dogecoin whales pushing for liberation

In a recent post on social media platform X, Ali Martinez, a prominent crypto analyst, shared a chart that highlights the massive activity from Dogecoin whales.

“#Dogecoin whales have bought up over 60 million $DOGE in the last 24 hours!”

Many members of the community are interpreting this interaction as the whales pushing for Dogecoin liberation. Typically, such large transactions from whales indicate their anticipation of bullish momentum. The main idea behind this move is to maximize profits when the price of the meme coin eventually rises higher.

In essence, this activity suggests that these large investors are optimistic about the underlying technology or sentiment that drives the Dogecoin ecosystem. They anticipate that ongoing developments, such as the integration with Ordinals inscriptions, will contribute to further increases in the price of DOGE.

At the moment, DOGE is still experiencing increased market volatility on the daily time frame, despite showing a 10% surge in the past seven days. Over the last 24 hours, the meme coin's price has seen a slight decrease of 1.4%, bringing it to $0.1228.

Is altcoin season returning?

Meanwhile, the recent Dogecoin whale transaction has sparked discussions and speculation about the return of the next altcoin season. These discussions are relevant because DOGE and other altcoins, including Ethereum, XRP, and Solana, were among the top gainers following the recent market recovery.

While these gains have since dwindled, Dogecoin's year-to-date return of over 78% speaks well of the meme coin. Solana has also made a comeback, with its price soaring to $160.

As rumors about a possible DOGE Exchange-Traded Fund (ETF) continue to circulate, the market will be keeping a close eye on any further impact on prices.

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