Binance received 200M Dogecoin ($59.9M) from an unidentified wallet. This sparked conjecture on possible trades or liquidity preparation. Following initial losses, Dogecoin recovered 13% to $0.323, in line with the market's recovery. With more than 6.6 million holdings this year, DOGE may increase to $0.48 or fall to $0.23 despite strong resistance at $0.36.
The Dogecoin community is lit after 200 million DOGE (worth $59.9M) got transferred from a mystery wallet straight to Binance. Nobody knows who’s behind this massive move, but the rumor mill is spinning. Is it a whale looking to trade big or Binance prepping for more liquidity? The real reason is still up in the air.
DOGE’s price has been on a rollercoaster lately. After a dip below its 50-day SMA of $0.36 earlier this week, it bounced back hard—jumping 13% in the last 24 hours to hit $0.323. The rebound came after hitting a low of $0.262 on Friday and reaching an intraday high of $0.35 on Saturday.
Looking ahead, DOGE could face resistance at $0.36, but if it breaks through, we’re eyeing $0.42 or even $0.48. On the flip side, if it slides, it might drop to $0.23.
Meanwhile, the DOGE fam keeps growing, with over 6.6M wallets holding the meme coin in 2024. With a 400% jump in market cap for meme coins this year, Dogecoin is showing it’s more than just a joke—it’s here to stay.
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