As the pioneer memecoin community prepares for 2023’s “DOGE Day,” which would honour the birthday of “Kabosu,” the dog who inspired the first “doge” meme, the price of Dogecoin (DOGE) has increased by 20% over the past ten days. The patterns in historical data indicate that DOGE prices may rise more in the next days.
As the community celebrates the birthday of “Kabosu,” the Japanese puppy who served as the inspiration for the initial “doge” joke, the Dogecoin ecosystem is in a frenzy. The price of Dogecoin may respond as follows.
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The Dogecoin whales increased their trading activity leading up to the final Doge Day celebration in 2022, according to historical data trends. Between October 24 and November 1, DOGE Whale transactions climbed from 711 to 3,170, according to on-chain data tracker IntoTheBlock.
DOGE Day Festivities: Will Dogecoin Hit a 2023 Peak,DOGE Day Festivities: Will Dogecoin Hit a 2023 Peak
This indicates a 445 percent rise in whale trading activities throughout that time.
Remarkably, a same pattern has already surfaced prior to the 2023 DOGE day. The number of major transactions climbed from 790 to 1,090 between October 24 and November 1.
Whale Transaction Count is the total number of unique transactions that surpass $100,000 on a daily basis. Increased whale transactions seem to be a positive indication, indicating higher demand from wealthy investors.
Notably, the commemoration of DOGE Day in 2022 brought to a 100% price increase from $0.060 to $0.12. Holders of DOGE should expect further gains in the days to come if history repeats itself.
Notably, the commemoration of DOGE Day in 2022 brought to a 100% price increase from $0.060 to $0.12. Holders of DOGE should expect further gains in the days to come if history repeats itself.
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Real-time changes in the balances held by mining pools and recognised node validators are tracked by Miners Reserves. At current market values, the 40 million DOGE that the miners have amassed over the last week is roughly worth $2.8 million.
This is a sign that the Dogecoin environment is becoming more optimistic. Prices are under pressure to rise as miners amass their block rewards, which lessens selling pressure in the spot markets.
DOGE Day Festivities: Will Dogecoin Hit a 2023 Peak,DOGE Day Festivities: Will Dogecoin Hit a 2023 Peak,DOGE Day Festivities: Will Dogecoin Hit a 2023 Peak, DOGE coin Crypto news, DOGE coin News