😱🔥Dogecoin: Did Elon Musk make a new acquisition? Was $45 Million DOGE Bought?
The cryptocurrency market has entered another decline, and its global market capitalization has fallen to $ 2.39 trillion. #Dogecoin (#DOGE ) has also faced a significant correction in the last few days, falling by 25.5% on the weekly charts and by 14.8% on the 14-day charts. The asset is still up by about 18% compared to the previous month.
However, despite the correction, a recent whale purchase has excited the Dogecoin (DOGE) community. According to on-chain data, a whale wallet bought 300 million DOGE worth about $ 45 million. There is a lot of speculation about who the whale could be, and among many DOGE fans, the first guess is in favor of Elon Musk.Dec. Musk is a passionate DOGE supporter and many of his initiatives accept DOGE as payoff.
One reason for the speculation is that Musk shared a DOGE meme on X just hours before the whale purchase. Fans and investors could not help noticing the uncanny timing of the two events.
However, there is no evidence yet as to whether Musk is the person behind the whale wallet.
Will Dogecoin (DOGE) rise?
Dogecoin (DOGE)
The recent drop in the market may have caused the whale to increase its DOGE assets. Whale may be expecting a price increase soon. However, the forecasts about the DOGE are not very optimistic.
According to COINCODEX, Dogecoin (DOGE) will continue its downward trend over the next few weeks. The platform expects memecoin to fall to $0.133 on May 1, 2024. Reaching $ 0.133 from current levels will lead to a decline of about 10.5%. Moreover, CoinCodex predicts that the DOGE will fall below $ 0.13 by mid-May.
Changelly also paints a bearish picture for DOGE over the next few weeks. The platform anticipates DOGE to fall to $0.130460 on May 1, 2024. Furthermore, the platform predicts DOGE to drop to $0.127342 by mid-May.
