Deep-pocketed digital asset investors are making big moves in the cryptocurrency space, particularly with the meme token Dogecoin (DOGE). According to trader Ali Martinez, these investors have been accumulating DOGE at a rapid pace, with a staggering $640.5 million worth of the token being bought up in just two days. This surge in DOGE activity comes at a time when retail investors are getting distracted by the newly launched Official Trump (TRUMP) memecoin.
Martinez, who has a significant following on the social media platform X, highlighted the massive influx of DOGE investments by crypto whales. He pointed out that while the focus may currently be on TRUMP, the real action is happening with DOGE. As of the latest update, DOGE is trading at $0.35, indicating a strong market presence and investor interest.
In addition to DOGE, Martinez also shared insights on the TRUMP memecoin. He predicts that TRUMP could potentially surge above $50 if it manages to break through the diagonal resistance of a falling wedge pattern. This pattern is often seen as a bullish reversal signal, suggesting that selling pressure is subsiding and a potential upward trend could be on the horizon. At the time of writing, TRUMP is valued at $32.48, with Martinez keeping a close eye on its price movement.
Turning to the Solana (SOL) based meme token dogwifhat (WIF), Martinez believes that the altcoin is currently moving within a large parallel channel. This pattern indicates a sideways trend, with the asset respecting both support and resistance levels. With WIF trading near the support level at $1.35, Martinez anticipates that the altcoin is poised for a rally in the near future. He suggests that further consolidation around the lower boundary of the channel could precede an upswing towards $5. As of now, WIF is priced at $1.37, showing potential for growth in the coming days.
For crypto enthusiasts looking to stay updated on the latest market trends and price actions, subscribing to email alerts or following platforms like X, Facebook, and Telegram can provide valuable insights. By staying informed and following expert analysis from traders like Ali Martinez, investors can make more informed decisions in the dynamic world of cryptocurrencies.