- Dogecoin whales shift billions as ETF launch sparks investor buzz.
- Massive DOGE transfers fuel speculation ahead of anticipated ETF debut.
- Analysts predict $0.45 target as whales and ETF boost momentum.
Dogecoin is seeing intensified whale activity as major holders move massive amounts of the token across exchanges. Whale Alert reports that in the past 24 hours, there were two large withdrawals of over 200 million DOGE into OKEX, and two large inflows by unknown wallets.
The initial deal received 119,306,143 DOGE worth 34,625,784, and the other purchase received 81, 231,471 DOGE worth $23,414,006. Soon afterwards, another outflow of nearly equal size, 119,306,143 DOGE, equivalent to $3481147.147, was transferred out of OKEX to a wallet whose origin is unknown. This resembled the previous inflow; however, the connection between the wallets is not clear.
Whale Alert monitored another movement of 120,000,000 DOGE worth $35,519,949 left OKEX to an unknown wallet. This group of high-value transfers is an indicator of increased participation by the big players before a significant development of Dogecoin.
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Rising Volatility Amid ETF Anticipation
The Rex Osprey DOGE ETF, expected to launch this week, is driving renewed attention to Dogecoin. The fund will be the first of its kind in the United States, creating a regulated avenue for exposure to DOGE.
In response to the heightened momentum, Dogecoin’s price spiked to $0.3075, its highest level since February. However, profit-taking pulled the token back to $0.28. Despite the dip, DOGE has still gained 29% on the week, underscoring sustained market optimism.
Analysts Eye $0.45 as Next Target
Market experts note that Dogecoin may consolidate around its current level before attempting another leg up. Analyst Ali forecasts the next rally will move the coin to $0.45 in case demand does not decline when the ETF is launched and whales keep buying it.
Both excitement and volatility are driving massive whale transfers and expectations of the first Dogecoin ETF. With DOGE holding substantial weekly gains, traders are closely watching for the next breakout level.
Also Read: XRP Faces Uncertainty as Breakout Momentum Fades
