#### Summary:
– Over the last ten days, the cryptocurrency market has seen a resurgence, with some assets gaining more than others, notably the top meme coin, Dogecoin.
– Dogecoin’s value has soared to a two-month high, with significant whale accumulation and major traders entering substantial long positions.
Recent data from Ali Martinez highlights that major Dogecoin holders have boosted their holdings by over a billion coins in just two days, translating to a value exceeding $250 million at present rates.
This spike in acquisition aligns with a dramatic price increase for Dogecoin, which hit a pivotal support level of $0.19 earlier. Following multiple rebounds, the price surged past $0.25, reaching its highest level since early May.
Dogecoin’s value has climbed more than 80% since its low on June 23, amid the Israel-Iran conflict.
In addition to spot buying by whales, large-scale traders have also capitalized on the upward trend. According to Lookonchain, an anonymous investor closed a profitable long position on DOGE yesterday, earning over $2 million, and has since opened a new position worth $21 million, leveraging 10 times on the meme coin.
From a technical analysis viewpoint, experts suggest Dogecoin could rise to $0.36 or even $0.54, provided it holds above the crucial $0.2 support.
The original article “DOGE Surges to Highest Level in Two Months: Are Whales and Traders Bullish?” was first published on CryptoPotato.
