The Dogecoin (DOGE) market experienced a noticeable shift in sentiment on Thursday, with bullish trends emerging against the backdrop of positive on-chain data and comments from Elon Musk. Crypto market analyst Ali Martinez highlighted the substantial increase in Dogecoin whale accumulations, noting that over 1.40 billion tokens were amassed in recent days.
Elon Musk’s influential post titled 'The Dogefather' contributed significantly to the recent price rally of Dogecoin, reflecting a surge in market interest and investment in the dog-themed cryptocurrency.
The original news on this development was reported by CoinGape.
