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Dogecoin records a spike in transactions and has potential for growth; DOGE for moon?

Fast Take
  • Could Dogecoin (DOGE) reach a huge rally soon?
  • Expert Ali Martinez believes the DOGE token could be close to a bull run
  • The analyst highlighted the considerable increase in Dogecoin transactions in October
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meme cryptocurrency, Dogecoin (DOGE), could it reach a huge rally soon? Crypto expert Ali Martinez believes that the DOGE token could be close to a considerable price rally soon.

In an analysis shared on November 23, the analyst highlighted the considerable increase in transactions with the Dogecoin cryptocurrency exceeding US$100.000 in October.

Martinez noted that the surge recorded suggests greater interest in the asset, which could precede and propel DOGE towards a significant price increase.

“Dogecoin | There has been a notable increase in $DOGE transactions exceeding $100.000 over the past month, consistently reaching new highs. This increase suggests greater interest in DOGE from institutional players and whales, potentially preparing for a significant price increase,” he wrote.


At the time of publication, the price of Dogecoin was quoted at US$0,077326, up 2.2% in the last 24 hours. The cryptocurrency recorded a trading volume of US$418.773.039 during this period. Over the last month, DOGE has seen an impressive price growth of 17.4% in the last 30 days.

It is worth remembering that an analysis of the Santiment platform shared on November 22nd noted the movement of a large amount of older Dogecoin (DOGE) tokens leaving stagnant portfolios. The platform also highlighted that new DOGE whales that hold more than 1 million emerged in October.

“Altcoins are back in the green today, and data indicates there was a large amount of older $DOGE moving out of stagnant wallets today. Keep an eye on this, as well as the fact that 121 new Dogecoin wallets of over 1 million emerged last month,” he wrote.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.

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