DOGE Large Transactions Hit Milestone as Investors Eye More Gains

Dogecoin transactions worth more than $100,000 have reached a four-month high of 2,440, interpreted as a market repositioning for big moves.

Source: Twitter

#Dogecoin | The number of large transactions on the $DOGE network with a value greater than $100,000 just reached a four-month high at 2,400 transactions.

Such market behavior can act as a proxy for whales’ activity, suggesting how they may be positioning for a big price move. pic.twitter.com/K49QfXFVYb

— Ali Martinez (@ali_charts) April 26, 2022

Dogecoin Large Transactions

DOGEUSD is up +1.33%

The surge comes after the announcement that the acquisition of Twitter by Elon Musk for $45 billion has been finalized at $54.2 per share.

Cryptocurrency analyst Ali Martinez maintains that the DOGE is projected to rise to $0.24 after breaking from a wedge pattern in the past week.

The meme tokens have also increased in market capitalization to about $2 billion in the period that Musk and Twitter were pondering about the deal.

The confirmation has pushed the price of DOGE up by 32.69% to trade at $0.1652 in the past day and 18.16% in the past seven days. Dogecoin is expected to rise as much as $0.5 in the year.