11/29/2022 | CoinGape
Elon Musk’s Fav Dogecoin (DOGE) Price Skyrockets 10% In Hours, Here’s Why
Dogecoin (DOGE) price saw 10% rally amid accumulation by whales on speculation of Twitter CEO Elon Musk integrating DOGE
Dogecoin (DOGE) price saw over 10% again on Tuesday after almost 15% pump and dump in the last 2 days. Whales and market movers continue to buy DOGE in millions amid the possible payment support on Twitter and buying of DOGE by MicroStrategy’s Michael Saylor.
Whales Accumulation Saw Dogecoin Price Jump Over 10%
Dogecoin saw two massive rallies with the price jumping over 17% in the last 48 hours. The DOGE price suddenly witnessed an over 10% rally on Sunday with the price jumping from $0.090 to $0.099. However, the price fell again to $0.094, forming a support level.
On Tuesday, Dogecoin price again soars over 10% from a low of $0.093 to a high of $0.104. Interestingly, the pump came with few trading volumes. According to Lookonchain data, whales or market movers are accumulating DOGE amid speculation of an upcoming bullish rally.
A top whale transferred 300 million DOGE worth almost $30 million from Robinhood’s wallet
DQA5h47M4NdTt2mKDj4nP2VNZWczZi42RY on November 28 at 23:49:11 UTC. The whale’s wallet
As a result of the transaction, Dogecoin Whale Alert recorded several whales moving DOGE in millions. This resulted in the DOGE price skyrocketing over 10%.
Recently, Elon Musk teases Twitter 2.0 plans revealing payments introduction to Twitter. Crypto Twitter speculated that Musk will integrate its favorite Dogecoin, causing a continuous upside move in the last 7 days. Moreover, the crypto community is now speculating if Microstrategy’s Michael Saylor will purchase DOGE as he has been seen interacting with Elon Musk on Twitter in recent times.
DOGE Price Awaits Massive Momentum
Dogecoin price is currently trading at $0.102, following a 10% jump in the last 24 hours and a 40% jump in a week. The 24-hour low and high for Dogecoin are $0.092 and $0.104, respectively.
Another large transaction moving 200 million DOGE worth almost $20 million is reported by Dogecoin Whale Alert. Investors are suggested to avoid jumping in, as recent pump and dump have increased volatility.