{"id":37277,"date":"2025-01-20T08:28:40","date_gmt":"2025-01-20T08:28:40","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=37277"},"modified":"2025-01-20T08:28:40","modified_gmt":"2025-01-20T08:28:40","slug":"dogecoin-whales-on-the-move-is-doge-primed-for-a-new-bull-run","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=37277","title":{"rendered":"Dogecoin Whales on the Move: Is DOGE Primed for a New Bull Run?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Large investors have accumulated more than 1.8 billion DOGE in the past 36 hours, reducing circulating supply, which could potentially have a positive impact on the price.<\/span>
\nTrump\u2019s pro-crypto stance and Musk\u2019s role in the D.O.G.E. department could boost the meme coin\u2019s popularity and value even more in the near future.<\/p>\n

<\/a><\/p>\n

Big DOGE Move Incoming?<\/h2>\n

The past few days have been more than eventful for the cryptocurrency market, which experienced enhanced turbulence. The price of Bitcoin (BTC), for instance, soared above $106,000 on January 19. Shortly after, it plummeted below $100K, only to <\/span>explode<\/span><\/a> to a new all-time high of almost $110,000 just minutes ago.<\/span><\/p>\n

The enhanced volatility, which is most likely caused by Donald <\/span>Trump\u2019s<\/span> upcoming inauguration today, has also affected Dogecoin (DOGE). The biggest meme coin in <\/span>terms of<\/span> market capitalization has been hovering between $0.34 and $0.43 in the last three days, currently worth around $0.38 (per CoinGecko\u2019s data).<\/span><\/p>\n

<\/a>DOGE Price, Source: CoinGecko<\/p>\n

One<\/span> important<\/span> element signaling that DOGE could be gearing for a substantial rally in the short term <\/span>is the whale activity<\/span>.<\/span> X user Ali Martinez <\/span>revealed<\/span><\/a> that such large investors had accumulated 1.83 billion tokens in the past 36 hours (equaling over $700 million at ongoing rates).<\/span><\/p>\n

The development reduces the circulating supply of the asset, potentially leading to a price increase (assuming demand stays the same or heads north). It can also encourage smaller players to enter the ecosystem, thus triggering an additional flow of capital.\u00a0<\/span><\/p>\n

The Possible Trump\/Musk Effect?<\/span><\/h2>\n

Another major factor signaling good days ahead for DOGE bulls is Donald <\/span>Trump\u2019s<\/span> incoming reign as <\/span>America\u2019s<\/span> 47th President. During his presidential campaign, the Republican presented himself as the right choice for pro-crypto voters and made<\/a> multiple promises that could help the industry flourish in the near future.\u00a0<\/span><\/p>\n

Additionally,<\/span> recent reports have <\/span>indicated<\/span><\/a> that Trump<\/span> \u201c<\/span>plans to release an executive order elevating crypto as a policy priority and giving industry insiders a voice within his administration.<\/span>\u201d<\/span>\u00a0<\/span><\/p>\n

Elon <\/span>Musk\u2019s<\/span> involvement in politics should also be mentioned<\/span>. <\/span>Tesla\u2019s<\/span> boss has been part of <\/span>Trump\u2019s<\/span> inner cycle for <\/span>the past<\/span> several months and will <\/span>even<\/span> spearhead<\/span><\/a> an upcoming division called Department of Government Efficiency (D.O.G.E.).<\/span><\/p>\n

The <\/span>entity\u2019s<\/span> main goal will be to reduce bureaucracy, <\/span>get rid of<\/span> unnecessary regulations, and eliminate wasteful spending within the American government.<\/span> DOGE proponents, though, have noticed the <\/span>obvious<\/span> match between the abbreviation of their favorite cryptocurrency and the agency, predicting that it might positively impact the meme coin.\u00a0<\/span><\/p>\n

After all, Musk is a huge advocate of Dogecoin, often praising its merits and endorsing it <\/span>on X.<\/span> We have yet to see whether he will announce any big news for the DOGE community while at the department\u2019s helm.\u00a0<\/span><\/p>\n

The post Dogecoin Whales on the Move: Is DOGE Primed for a New Bull Run?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Large investors have accumulated more than 1.8 billion DOGE in the past 36 hours, reducing circulating supply, which could potentially have a positive impact on the price. Trump\u2019s pro-crypto stance and Musk\u2019s role in the D.O.G.E. department could boost the meme coin\u2019s popularity and value even more in the near future. Big DOGE Move […]<\/p>\n","protected":false},"author":0,"featured_media":37278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37277"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37277"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/37278"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}