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  • Nidhi Kolhapur
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    Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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Dogecoin Whales Accumulate 560 Million DOGE; Rally To $1 Imminent?

Dogecoin whales grabbed attention on Saturday, showing strong bullish sentiment despite market volatility. Recent on-chain data revealed they accumulated 560 million DOGE, hinting at a potential rally to $1. In a latest X post, crypto analyst Ali Martinez highlighted the development. Moreover, the launch of Grayscale’s DOGE-backed Trust has sparked a shift in investor sentiment, making it more positive toward the meme asset. The analyst notes that the buying surge comes after a recent sell-off, which shows renewed interest from large-scale investors. The new Trust launch and ETF filing further boosts the tokenโ€™s potential to hit $1. At the same time, Bitwise has also filed an S-1 for a DOGE ETF earlier.

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