A leading analytics firm says whales are loading up on Dogecoin (DOGE) as the top memecoin flashes signs of breaking away from the rest of the crypto markets.
Market intelligence firm Santiment says that Dogecoin whales, or addresses holding over 10,000,000 DOGE, are in the process of gobbling up large stacks of the leading meme crypto asset.
According to Santiment, Dogecoin whales have added 1,470,000,000 DOGE in their portfolio over the last three months. The analytics firm also adds that DOGE could be flashing early signs of outperforming the crypto markets.
“Dogecoin has shown some mild decoupling signs this weekend with a +9% jump in the past 24 hours while most of crypto is flat. Santiment Feed data indicates that addresses holding 10 million+ DOGE have accumulated 1.47 billion in coins since Jan. 1st worth $123.1 million.”
Amid the Dogecoin whale accumulation, popular crypto strategist Kaleo tells his 571,600 Twitter followers that DOGE is likely gearing up for a strong surge after managing to take out its diagonal resistance on the lower timeframe.
“DOGE officially breaking out on multiple timeframes. Send it to $0.15 with haste.”
At time of writing, Dogecoin is trading for $0.095. A move toward Kaleo’s target of $0.15 suggests an upside potential of nearly 57%.
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