Whales in the Dogecoin network bought 750 million units of this digital currency during the recent crypto market downturn. Onchain data shows this purchase occurred when Dogecoin’s price dropped from $0.3 to $0.2, indicating a ‘buy the dip’ strategy. According to analyst Ali Martinez, this action by whales signals optimism about Dogecoin’s future price. In the crypto market, large purchases by whales are often seen as a sign of institutional investor confidence in an asset and can lead to price increases. Meanwhile, market analysts point to Dogecoin’s historical trends and believe that after such downturns, this digital currency has experienced significant price surges in the past. Some experts predict that Dogecoin may witness substantial growth in the coming weeks.
