Dogecoin (DOGE) Hits Crucial Point on Chart: Analyst

Cryptocurrency analyst Jake Wujastyk has taken to the X platform to share his take on what direction Dogecoin’s price move may take further.

Wujastyk shared a screenshot showing that DOGE has reached a “make or break” point from where the meme coin’s price can either start plunging deeply or it will skyrocket.

Notably, over the last 24 hours, the original meme-inspired cryptocurrency has printed an impressive price increase, surging by more than 8.3% and reaching the $0.12537 level, where it is changing hands as of this writing.

Over the last 24 hours, IntoTheBlock on-chain data provider shared that a tremendous $1 billion worth of Dogecoin has been moved by anonymous whales. These massive transactions were worth $100,000 minimum, according to the published report.

This uprise signifies a massive increase in the activity of financial institutions as they have started buying and selling DOGE at a higher pace than before.

Overall, in the past 24 hours, the overall transaction volume of Dogecoin has surged to 8.45 billion DOGE – that represents an increase of 37%.