Significant Whale Transactions Worth Nearly $60M Sparks Potential Dogecoin Price Explosion

Crypto whales. They’re mysterious entities with unknown identities. But their impact on the crypto world is typically emphatic and often revealing. When crypto whales move in a certain direction, retail investors can’t help but follow suit.

That is why a significant whale transaction of nearly $60 million in DOGE has sparked speculation about the Dogecoin price. Will this move make Dogecoin more appealing to investors? Is there a better investment option? Read on to find out.

Crypto Whales Accumulate $60 Million DOGE

Dogecoin has been on an upward end for the last couple of months, but recently, the coin’s momentum has stalled.  Dogecoin price became quite volatile and consequently shed a portion of its value. However, instead of selling off their holdings, some crypto whales are buying the dip.

According to Whale Alert, over 61 million DOGE, valued at around $23.5 million, was moved from an unknown wallet to Robinhood. This was followed by another DOGE transaction worth $34 million. These massive whale transactions are expected to significantly influence the Dogecoin price and potentially send it back on an upward momentum.

What does This Mean for Dogecoin Price?

Crypto market analysts are of the opinion that Dogecoin could appreciate dramatically as a consequence of these whale transactions. Dogecoin relies heavily on hype, and activity of this magnitude will only draw more attention to the token, which in turn could attract yet more investors to it.

DOGE is currently trading around  $0.4, which is a marginal increase over its monthly scene.  With whale movements expected to cause a surge, analysts are predicting that Dogecoin might rally to $0.55, which would set a new record for the year.

If DOGE breaks this price level and doesn’t experience an immediate price correction, then the coin could go all the way and set a new all-time high. Old Dogecoin holders particularly, are hoping for this outcome, as it would obviously boost their investments tremendously.

Is Now the Best Time to Invest in Dogecoin?

Dogecoin offers decent gains based on its current price trajectory and potential. However, it’s also possible that Dogecoin will drop in the near future because it is a meme coin that has little to no utility use case. Once the current hype around it dies, Dogecoin will likely start depreciating.

Smart crypto investors realize this, which is why they are approaching Dogecoin with caution. While investing in Dogecoin now is not a terrible decision, it makes more sense to diversify with other tokens that could potentially offer greater gains. It’s why so many are turning to Remittix.

Remittix is a PayFi token, which means it is focused on facilitating cross-border payments and breaking down the boundaries between crypto and fiat currency. The difference between Remittix and other PayFi tokens is that it allows anyone to send cryptocurrencies right from their wallet to any fiat bank account in the world in a completely seamless way.

This is a groundbreaking feature, and that is why the Remittix presale is quietly gaining traction. After a stealthy launch, investors are locking onto its enormous potential, with a massive uptake in interest as a result. Available for $0.0156 at the moment, Remittix is set to fetch enormous ROIs for early investors, provided they get in early enough.

Discover the future of PayFi with Remittix by checking out their presale on the website and social media platforms.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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