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Dog-themed cryptocurrency Dogecoin (DOGE) It is seeing a lot of activity as 2024 comes to a close. In the past 24 hours, $258 million worth of Dogecoin has been transferred, attracting the attention of the cryptocurrency community.
In the past 24 hours, two transactions totaling 816 million DOGE worth $258 million were reported by blockchain data tracker Whale Alert. The transactions were as follows: 466.8 million DOGE were transferred in one transaction, and 350 million DOGE were transferred about an hour later in a separate transaction. Both transactions occurred between unknown wallets.
Whale alert Reports: 350,000,000 Doji worth $109,962,192 and 466,890,148 A DOGE amount of $149,137,073 was transferred from an unknown wallet to an unknown wallet.
While the purpose of the 816 million DOGE transfer remains unknown, some possible explanations may be possible.
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Such movements may indicate the activity of Dogecoin whales, which are referred to as large holders or entities holding large amounts of DOGE.
Transfers between unknown wallets often spark speculation about their purpose, from preparations for trading or private sales to over-the-counter (over-the-counter) trading that occurs outside the exchange or simply the redistribution of funds.
Will Dogecoin reach $1 in 2025?
As 2024 comes to an end, many predictions have emerged for the cryptocurrency market. Along these lines, Galaxy Research has released its 2025 cryptocurrency forecasts, including its price predictions for Bitcoin and Ether, Dogecoin and DOGE, stablecoins, DeFi, L2s, politics, VC and more.
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Galactic research predicts this Dogecoin It will finally reach $1, as the world's largest and oldest memecoin reaches a market cap of $100 billion.
At the time of writing, Dogecoin is down 0.39% over the past 24 hours to $0.32, reflecting the lackluster market sentiment in the final hours of 2024. If Dogecoin rebounds beyond $0.34, it may attempt to rise to the moving average. Simple for 50 days. At $0.382, where sellers are expected to make a strong defense.
Currently, Dogecoin has managed to stay above the $0.30 level. If the market fails to advance higher, the bears may sell again. If the $0.30 level breaks, Dogecoin could fall to $0.27 and eventually to $0.23.
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