Crypto analyst Jake Wujastyk believes Dogecoin (DOGE) is at a critical juncture. He shared a chart suggesting a potential breakout or breakdown for the meme coin.
This comes after a strong 24 hours for DOGE. The price surged over 8.3%, reaching $0.12537. On-chain data from IntoTheBlock reveals significant movement by whales, with over $1 billion in transactions exceeding $100,000.
This activity suggests increased institutional interest in DOGE, with buying and selling ramping up. Overall transaction volume also jumped 37% to 8.45 billion DOGE in the last day. Will DOGE soar or sink? Only time will tell.
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