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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Whale Pumps 200 Million USD Into Dogecoin – Golden Cross Appears, Is the ETF Very Close?
Dogecoin is on a strong upward trend after "whales" accumulated 1 billion DOGE, worth about 200 million dollars, in just 24 hours. This massive accumulation has helped DOGE rise by more than 11.2% over the past day, with the price currently fluctuating around 0.24 dollars, according to CoinMarketCap. Currently, the ownership rate of large investors accounts for nearly 50% of the total supply, a sign of increasing confidence among institutions. Analysts note that this concentrated buying could reduce selling liquidity, potentially paving the way for larger fluctuations in the future. The technical chart shows an 18% increase towards the $0.26 area, with buyers targeting a breakout above $0.28 that could pave the way to $0.35. Golden Cross Signals Potential for Significant Price Increase Adding to the excitement, Dogecoin has formed a golden cross for the first time since November, a bullish pattern that occurs when the 50-day simple moving average (SMA) moves above the 200-day SMA. Historically, such intersections in DOGE often occur before strong price increases, including a 130% rise by the end of 2024. Although the golden cross is not perfect, traders remain optimistic that the combination of whale accumulation and strong technical factors could mark the beginning of another bullish run. Momentum indicators support the bullish trend, with DOGE staying above the 30-day SMA and the relative strength index (RSI) at a neutral level of 57, paving the way for further upward momentum.
Hope for Dogecoin ETF and Momentum from Regulations Aside from market speculation, institutional investors are betting nearly 75% on the likelihood that Polymarket will approve the Dogecoin ETF. Bloomberg's ETF analysts, Eric Balchunas and James Seyffart, have even raised the approval rate for spot DOGE ETFs to 90% by the end of 2025, citing a more favorable regulatory environment for cryptocurrency. This approval could be a crucial catalyst for the price of DOGE, expanding its reach to mainstream investors. Combined with whale buying activity, technical breakouts, and increasing interest from retail investors, this could set the stage for DOGE's next "moon mission." Currently, traders are closely watching the resistance level of $0.242–$0.245. A strong breakout could drive the momentum up to $0.30, while holding above the support level of $0.227 will maintain the bullish trend.