Deep-pocketed digital asset traders are gobbling up huge quantities of the main meme token Dogecoin (DOGE).
Dealer Ali Martinez tells his 116,800 followers on the social media platform X that whereas retail traders are getting distracted by the just lately launched Official Trump (TRUMP) memecoin, crypto whales closely accumulated DOGE to the tune of $640.5 million in simply two days.
“Whereas everybody focuses on TRUMP, whales purchased 1.83 billion Dogecoin DOGE in [48 hours!]”
At time of writing, DOGE is buying and selling for $0.35.
TRUMP itself, Martinez predicts that the memecoin will surge above $50 if it takes out the diagonal resistance of a falling wedge sample.
A falling wedge construction is usually considered as a bullish reversal sample because it means that promoting stress is dropping momentum.
“TRUMP appears to be forming a falling wedge on the decrease time frames, suggesting a possible consolidation towards the apex earlier than a rebound to $54.”
At time of writing, TRUMP is price $32.48.
As for the Solana (SOL)-based meme token dogwifhat (WIF), the dealer thinks the altcoin is transferring inside a big parallel channel – a sample suggesting that the asset is in a sideways development because it respects each the assist and resistance ranges.
With WIF buying and selling near the sample’s assist degree at $1.35, Martinez believes that it’s virtually time for the altcoin to spark rallies.
“We may see additional consolidation across the channel’s decrease boundary earlier than an upswing towards $5!”
At time of writing, WIF is price $1.37.
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