Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»DOGE’s 190% surge was met with a 22% collapse and whales plummeted.
ALTCOIN NEWS

DOGE’s 190% surge was met with a 22% collapse and whales plummeted.

By Crypto FlexsNovember 17, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
DOGE’s 190% surge was met with a 22% collapse and whales plummeted.
Share
Facebook Twitter LinkedIn Pinterest Email
  • Dogecoin surged 190%, briefly surpassing XRP in market capitalization.
  • Musk’s “DOGE” mention and the dismissed lawsuit created excitement.
  • Whale investors showed confidence by amassing millions of dollars in DOGE.

Dogecoin (DOGE) took the cryptocurrency world by storm, soaring from $0.15 to a high of $0.43 in a matter of days. This explosive growth marked the highest price for the meme coin in three years and allowed it to briefly overtake XRP in market capitalization.

The rally has been shocking, with DOGE up an impressive 81% in the past week alone. This surge was amplified by a mysterious statement from the Department of Government Effectiveness (DOGE) that sent markets into a frenzy, mentioning “DOGE”.

DOGE is down 22%, but Whales are up $56 million

Elon Musk, known for influencing Dogecoin’s price movements, added fuel to the fire by saying, “I’m starting to feel that DOGE has real potential.” However, after hitting a high of $0.44 on November 12, Dogecoin suffered a sharp correction, falling 22% to $0.34 in a matter of hours. Since then, momentum has been cooling and it is trading within a narrow range.

Adding to the optimistic mood, the plaintiffs on November 14 withdrew their 2022 class action lawsuit accusing Elon Musk and Tesla of manipulating the price of Dogecoin. The investors alleged a “crypto pyramid scheme” and demanded $258 billion in damages.

The withdrawal of the lawsuit was seen as a victory for Musk and a positive development for DOGE investors. Whale investors took notice. Large holders are taking advantage of recent price drops to accumulate huge amounts of DOGE.

A total of 160 million coins were added to wallets holding between 10 and 100 million DOGE, bringing their total holdings to nearly 19.91 billion DOGE, according to market analyst Ali Martinez. This accumulation, worth $56 million, reflects significant confidence in Dogecoin’s prospects.

DOGE leads the way with Memecoins gaining 103% in 30 days.

Technical analysts are also optimistic. Veteran trader Peter Brandt highlighted the golden cross pattern on the DOGE chart, a bullish signal where the 50-day moving average crosses the 200-day moving average. Historically, this pattern has preceded major price increases for Dogecoin.

While Dogecoin is leading, other meme-based cryptocurrencies are also enjoying significant gains. According to data from Artemis, memecoin has posted an average return of 103% over the past 30 days, significantly outperforming the broader cryptocurrency market’s average return of 16.1%.

Pepe (PEPE) and Solana-based Bonk (BONK) are among those riding the wave of investor enthusiasm. The surge in memecoins coincides with their increasing social dominance. Discussions about meme-related tokens are widespread across platforms such as X, Reddit, and Telegram.

This heightened social engagement not only highlights the speculative nature of the current market, but also represents a revitalization of retail in cryptocurrency investing. Despite the optimistic trend, traders are advised to exercise caution.

On the flip side

  • Dogecoin’s recent rise led to a 22% correction, highlighting the asset’s volatility.
  • Memecoin is a speculative investment and may experience rapid price declines.
  • Regulatory scrutiny remains a risk, especially when a public figure like Elon Musk is involved.

Why This Matters

Dogecoin’s incredible rise is more than just a meme-fueled craze. This reflects the growing influence of social media and celebrity endorsements in the cryptocurrency market. The withdrawal of the lawsuit against Elon Musk removes a significant overhang, potentially paving the way for institutional acceptance.

Learn how Trump’s cryptocurrency initiatives and Dogecoin’s growing influence are shaking the industry’s foundations.
Trump launches DOGE department, not even Crypto X

Find out why Dogecoin’s surge beyond XRP is generating excitement with its historic golden cross and potential future dominance.
Dogecoin upsets XRP to build historic golden cross: What’s next for $1?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Did the Altcoin season end in 2025? Experts think that it was delayed that it was not dead.

June 4, 2025

Is Ether Lee leading capital rotation to Bitcoin Dominance Falls -Altcoin Rally?

June 4, 2025

Binance cracks down on bot agriculture in Binance Alpha.

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

NVIDIA MLPERF V5.0: Reproduces the educational score for LLM benchmarks

June 4, 2025

Price prediction of BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link

June 4, 2025

Did the Altcoin season end in 2025? Experts think that it was delayed that it was not dead.

June 4, 2025

Checkpoint #3: June 2025 Stats Ether Leeum Foundation Blog

June 4, 2025

Floating Point 8: Low precision AI training innovation

June 4, 2025

Is Ether Lee leading capital rotation to Bitcoin Dominance Falls -Altcoin Rally?

June 4, 2025

Bitcoin (BTC) is faced with market volatility in economic changes.

June 4, 2025

Huma joins the Global Dollar Network and develops Stablecoin adoption in solana.

June 4, 2025

Vechain is a crawling for the Renaissance upgrade among the veterinarian price pressure.

June 4, 2025

Director Trezor: What is the best hardware wallet in 2025?

June 4, 2025

Binance cracks down on bot agriculture in Binance Alpha.

June 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

NVIDIA MLPERF V5.0: Reproduces the educational score for LLM benchmarks

June 4, 2025

Price prediction of BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link

June 4, 2025

Did the Altcoin season end in 2025? Experts think that it was delayed that it was not dead.

June 4, 2025
Most Popular

How Blackrock’s 11,000 Bitcoin Acquisition Could Reshape Bitcoin Market Dynamics – The Defi Info

January 17, 2024

Bitcoin Price Struggle: Can the Leading Cryptocurrency Start a New Rise?

May 30, 2024

NVIDIA expands the automobile ecosystem with AI drive innovation.

March 22, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.