On Tuesday, Ali, a prominent voice in the crypto community, revealed that whale investors purchased a staggering 270 million Dogecoin (CRYPTO: DOGE) in less than four days.
What Happened: On Christmas Eve, Ali took to X to announce the significant investment in Dogecoin. He said, “Whales bought 270 million #Dogecoin $DOGE in the last 96 hours!”
At the price prevailing at the time of writing, the whale transactions amount to $91.8 million.
So far this year, DOGE has shot up a whopping 274% outperforming larger market cap coins such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) which gained 132% and 53% in a similar period.
The substantial purchase by whale investors indicates a renewed interest in Dogecoin, despite warnings from traders about the meme coin’s potential to underperform other trending cryptocurrencies.
However, Ali’s post and the subsequent whale activity could be a positive sign for Dogecoin. If history repeats itself, as the analyst suggests, Dogecoin could be in for a significant rally in 2025.
Price Action: At the time of writing Dogecoin rose 4.6% over 24 hours to trade at $0.34, according to data from Benzinga Pro.
Read Next: Analyst Bullish on Shiba Inu, Sees 235% Surge Despite Recent Fall
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
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