Dogecoin (DOGE) has recently witnessed a significant price increase of 6.9% over 24 hours, bringing its value to $0.1764. This surge has been largely driven by substantial whale investment, with an additional $149 million being poured into DOGE during the same period.
The large holder inflow has jumped from 3.08 million to an impressive 861 million DOGE, reflecting a strong interest from major investors. This inflow has coincided with a rise in social media dominance and a noticeable increase in the number of active addresses, both of which have hit multi-month highs.
Technical analysts are optimistic about DOGE's price trajectory, anticipating a potential climb to $0.22 in the short term. This bullish outlook is likely fueled by the recent trends and market conditions surrounding Dogecoin.
