Massive Buying Spree Worth $3 Billion Shows DOGE is Still Leading Over PEPE, But Can It Beat INTL Rally?
The post Massive Buying Spree Worth $3 Billion Shows DOGE is Still Leading Over PEPE, But Can It Beat INTL Rally? appeared on BitcoinEthereumNews.com.
In the cryptocurrency space, memecoins like PEPE and Dogecoin (DOGE) have created a frenzy, captivating both trader interest and major trading volumes. Recently, DOGE hiked after resisting a critical support level, igniting new interest amongst the holders. On the other hand, PEPE has experienced a downside of sell-off, keeping it in an uncertain market position. Meanwhile, a new AI-driven platform, committed to provide its users a next-generation trading experience with advanced technology features that make it apart from its competitors. Dogecoin (DOGE): A $3 Billion Buying Surge and Renewed Upward Momentum Dogecoin has recently gathered traders’ attention with a significant buying spree worth more than $3 billion. A key catalyst to boost this momentum was the bounce off of DOGE from a critical support level at $0.14. According to a top crypto expert, this “red level” has converted from a resistance point into a major support, increasing DOGE’s potential for more gains. Within hours, DOGE hiked to $0.16, reflecting a 16% surge that showed the renewed bullish sentiment amongst traders. Data also highlights the excitement around DOGE as over the past week, centralized exchanges went through a rush of 350 million DOGE, totaling to $51 million in net inflows. Major traders shifted a striking 15.5 billion DOGE in huge transactions, resulting in $3.46 billion in worth. This wave of activity recommends that whales and institutional investors may be expecting higher value targets for Dogecoin. PEPE’s Bearish Outlook: Diminished Volume and Trader Sentiment Contrasting DOGE’s rally, PEPE’s performance has gone downhill significantly. After breaking below the crucial $0.000010 level, PEPE has continued to decrease, with its worth hovering around $0.0000089. Daily trading volume has gone down to $485 million, indicating waning trader interest—a clear difference from its higher activity levels in late September. Moreover, derivative markets show this cooling sentiment, with…
Filed under: News - @ November 4, 2024 2:11 am