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Dogecoin Whales Bag 750M DOGE Amid Recent Market Dip, What’s Next?

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Dogecoin whales again echoed a market frenzy on Thursday, embarking upon a massive DOGE buying spree amid the recent volatile market trend. On-chain data revealed by a top crypto analyst highlighted that a staggering 750 million tokens were bought amid the meme coin’s fall below the $0.3 price level. As a result, traders and investors eye remarkable gains ahead, thus paving the way for a recovery.

Dogecoin Whales’ Massive Buying Fuels Market Optimism

According to an X post by the crypto market analyst Ali Martinez on February 6, Dogecoin whales bought 750 million coins amid the recent market dip. As per the analyst’s post, the massive buying occurred as the coin slipped from the $0.3 level to the $0.2 level, mirroring the broader trend.

Dogecoin whale activityDogecoin whale activity
Source: Ali Charts, X

In turn, bullish sentiments surrounding DOGE price’s future have prevailed across the market, primarily in light of heightened whale buying. For context, usual market sentiments convey immense optimism in the wake of whale accumulations as they signal large-scale investors’ confidence in the asset.

Are Whales Buying The Dip?

Meanwhile, it’s also worth mentioning that the current strategy illustrated by Dogecoin whales is a potential buy-the-dip maneuver. Against the backdrop of the crypto market’s current volatile trend that started this month, BTC & altcoins have reversed concerning values from prices.

In sync with this trend, even the DOGE price has tanked nearly 20% from January’s end to date. Notably, the asset’s price fell from the $0.33 level to $0.26 in this period. Dogecoin whales’ decision to buy amid this dip signals that recovery and further gain loom for the top meme coin.

Can DOGE Price Pump Ahead?

At the time of reporting, DOGE price witnessed a tight sideways trading session intraday, resting at $0.2642. Its 24-hour low and high were $0.2544 and $0.269, respectively. Despite the current turbulent price action, market participants remain optimistic about future movements attributable to Dogecoin whales’ recent trade maneuvers.

Simultaneously, renowned crypto market trader ‘Cas Abbé’ took to X, igniting optimism surrounding the meme coin’s future movements. According to the trader, the dog-themed coin’s “fractal looks very similar to Q3 2024.” This statement indicates that the token is consolidating after a big crash. However, historically, following this dip, the coin went on a parabolic rally and pumped 300% in just 4-6 weeks. As a response to this bullish prediction, market watchers remain positive over further gains, with bullish sentiments further supported by whale accumulations.

DOGE priceDOGE price
Source: Cas Abbé, X

Also, a recent Dogecoin price analysis by CoinGape further aligned with soaring market optimism, indicating that the token eyes a bullish trend ahead. This analysis is also attributed to the price mirroring historical patterns and bullish whale statistics, revealing a price pump is imminent.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Top Reasons for Jupiter Price Crash 8% Today

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51 minutes ago

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February 6, 2025

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JUP, the native cryptocurrency of Solana-based decentralized exchange (DEX) Jupiter, came crashing down by 8% today amid the breach of its official X account, which was shilling meme coins. The Jupiter price is down 8% today, currently trading at $0.88, with daily trading volumes crashing by 49%.

Jupiter Price Crashes Amid DEX Security Breach

The Jupiter price is down 8% amid strong selling pressure As the official X account of Jupiter decentralized exchange was compromised earlier today, shilling some meme coins on the platform. The development caused instant panic, triggering strong sell-offs for JUP.

Following the development, JUP failed to hold above $1.0 and has come crashing down all the way to $0.88 as the daily trading volume tanked 49% to under $175 million. As per the Coinglass data, the JUP futures open interest has also dropped 7.66% to $150.79 million. On the other hand, the 24-hour liquidations have soared to $1.1 million of which $1.05 million is in long liquidations.

Hackes Promoted Meme Coins MEOW

Deleted posts from Jupiter’s main account allegedly promoted a scam meme coin with the ticker MEOW. Reports suggest the token briefly hit a $30 million market cap within seconds before the posts were removed and the coin experienced a rug pull.

Data from GeckoTerminal shows the MEOW token, just four hours old, surged to a market cap of over $8 million before collapsing by more than 98%, ultimately plunging to $88,000. The Jupiter DEX has been in the news recently following its latest acquisition of crypto trading platform Moonshot.

DEX Recovers Within a Few Hours

Following the breach of their X account, the Solana-based decentralized exchange (DEX) Jupiter informed that they have regained control of their accounts. Commenting through their official X handle, the DEX stated:

“No customer or treasury funds were ever in danger. All programs and funds are in held in secure multisigs. No other comms channels were affected. Jupiter is fully secured. This issue was isolated to twitter alone”.

The exchange said that they are still figuring out what led to the security lapse. Although they had initiated several security measures, the hacker managed to find his way out.

JUP Price Action – Buy The Dip?

Crypto trader Gery Cat noted that this could be the right time to buy the Jupiter price dips. The analyst added that Jupiter (JUP) is gaining attention as its price action interacts with a critical Daily Fractal Point (FP), forming a Daily Rebound (RB) zone. He suggested that this zone could serve as a potential area of interest for traders considering long positions.

He further highlighted that the ideal bullish scenario would involve Jupiter price testing its 4-hour Fractal Point within the support area. A confirmation of buyer strength through significant volume at these levels would further solidify the case for upward momentum.

Source: GeryCat

However, considering the recent crypto market volatility, investors should be cautious ahead of building new positions.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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What It Means for the Crypto Market?

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2 hours ago

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February 6, 2025

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In a surprising development in the United Kingdom, the Bank of England reduced interest rates for the third time since August. The central bank’s decision comes amid the prevailing crypto market crash, with top coins like Bitcoin (BTC) and Ethereum (ETH) experiencing notable losses.

As the Bank of England’s interest rate cut follows the Federal Reserve’s decision to hold the rate unchanged, it signals a divergence in monetary policy between the two major economies. However, as the Monetary Policy Committee projected a hawkish stance, the BoE’s rate cut has sparked speculations of a notable impact on the crypto market.

Bank of England Reduces Interest Rate to 4.5%

According to a Reuters report, the Bank of England has reduced interest rates by a quarter point to 4.5%. This marks the lowest level since June 2023. The Monetary Policy Committee forecasted that only two additional interest rate cuts would be necessary to curb inflation and return it to the target rate of 2%.

Notably, Governor Andrew Bailey alerted against further reductions in the interest rate. Bailey stated,

It will be welcome news to many that we have been able to cut interest rates again. We’ll be monitoring the UK economy and global developments very closely and taking a gradual and careful approach to reducing rates further.

Central Bank’s Careful Approach To Monetary Policy

Further, the Bank of England highlighted the need for a “careful” approach to potential decisions. As the risks have now become two-sided, the committee posited, “There are uncertainties around the trajectories of both demand and supply in the economy that could have implications for monetary policy.”

As the central bank has shared a hawkish stance, the community is less likely to invest in risky assets such as cryptocurrencies. If this leads to a panic sell-off, the crypto market will see further downturns.

Federal Reserve’s Nuanced Stance on Interest Rates

Following the 2-day FOMC Meeting, the Federal Reserve decided to hold its interest rate unchanged at the 4.25% and 4.5% range. As per anticipations, the Fed is expected to maintain the rate steady for a larger part of the year.

The crypto market remained unaffected following the FOMC meeting and the Fed’s interest rate decisions. However, the industry collapsed shortly thereafter. The crypto crash was mainly driven by US President Donald Trump’s national emergency declaration, triggering a trade war. The President imposed heavy tariffs of 25% on Mexico and Canada as well as 10% on Chinese imports.

Thus, it needs to be seen how the Bank of England’s interest rate decision will influence the crypto market.

How Will BoE’s Interest Rate Impact Crypto Market?

Currently, the crypto market is striving to recover from the recent turmoil while the Bank of England has introduced reduced interest rates. With a total market cap of $3.22 trillion, down 0.47%, the market is still in its bearish phase.

Bitcoin is trading below the significant $100k mark, marking a marginal increase of 0.11% over the last 24 hours. Priced a $98.7k, Bitcoin experienced a 5.91% loss over the past week and a 1.96% dip over the last month.

Meanwhile, Ethereum and XRP have exhibited declines of 14.45% and 21.7%, respectively, over the last seven days. Solana, BNB, and Dogecoin are also on the bearish trend, marking declines of 16%, 13%, and 22%, respectively.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Meme Coin Whales Purchase $16M Worth PEPE & WIF, What’s Next?

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9 hours ago

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February 6, 2025

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Meme coin whales nabbed significant market attention amid the recent turbulent landscape, heavily purchasing Pepe coin (PEPE) and Dogwifhat (WIF). On-chain data on Thursday revealed that roughly $16 million worth of the abovementioned tokens were bought from the cryptocurrency exchange behemoth Binance. As an upshot, crypto market enthusiasts anticipate a bullish movement for these meme tokens ahead.

Meme Coin Whales Sack 375B PEPE & 15M WIF Tokens Sparking Optimism

According to data by Spotonchain on X, meme coin whales scooped massive amounts of the two tokens from Binance on February 5. Data revealed that the whale 0xf37 bagged 375.35 billion PEPE, worth $3.73 million, from the mentioned crypto exchange giant on Thursday.

Further, the whale 4x3M8 bought 9 million WIF, worth $7.42 million, from the same exchange within the same period. Also, the whale address A3kTT woke up after 2 years of dormancy to purchase $5.19 million worth of the dog-themed meme token. Altogether, the heavy buying by large-scale investors added a bullish tint to the asset’s future price movements, with usual market sentiments conveying that gains are imminent.

Buy-The-Dip Opportunity?

Meanwhile, it’s noteworthy that the crypto market has seen remarkable volatility recently, with this month proving to be ‘not so good’ for investors. Bitcoin price has lost nearly 6% of its value since January end to date, with altcoins mainly following the waning action with more heat.

Dogwifhat, while already in a price slump, witnessed a further 29% drop from January end to date. Following a very similar movement, even Pepe Coin lost nearly 26% in the same period. However, the massive accumulations by meme coin whales amid this slump flags a potential buy-the-dip strategy, signaling price gains, and thus recovery is imminent.

How Are The Meme Coins Performing Amid Rising Whale Activity

At the time of reporting, PEPE price witnessed an uptick of nearly 1.5% and exchanged hands at $0.00001035. The coin’s intraday bottom and peak were $0.000009783 and $0.00001044, respectively. While the coin jumps alongside heightened buying, it’s noteworthy that renowned market experts are also projecting bullishness on future movements.

Notably, market enthusiast ‘SlumDOGE Millionaire’ recently revealed that he sold all his ETH holdings, thereby going “all in” on the frog-themed meme token. This accumulation, worth nearly 1 billion coins, has garnered additional market optimism surrounding the asset in light of the heightened buying by meme coin whales. Further, renowned crypto enthusiast Jake Gagain also took to X, revealing that the token is going to pump the “hardest in 2025.” Altogether, these developments project immense bullishness on the crypto’s future price action.

On the other hand, WIF price tanked roughly 2% intraday despite the massive accumulation and is trading at $0.8099. Its 24-hour low and high were $0.7741 and $0.8505, respectively. Nevertheless, renowned trader ‘The Cryptomist,’ took to X, revealing that the “First target is $1.10” if the token breaks out from the given below ascending triangle. Traders and investors continue to monitor the coin extensively, remaining optimistic about price movements ahead due to burgeoning accumulations.

WIF PriceWIF Price
Source: The Cryptomist, X

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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