Dogecoin rallies to consolidate its gains since National Puppy Day
At the end of a week that saw gains of over 15%, Dogecoin began to falter and ultimately lost 3% in the past 24 hours. But it has now stabilized and started to recover. CoinGecko analytics show that while DOGE may not be going to the moon, it appears to be consolidating gains made since National Puppy Day on March 23. After falling to $0.134737, DOGE has now bounced up to $0.13449.
The original meme cryptocurrency had originally seen gains over the last few days after it was made available at Bitcoin of America crypto ATM machines across the U.S. American crypto users can now buy or sell DOGE, as well as withdraw cash, from over 1,800 ATMs. The consolidation today comes after it was revealed by U.Today that $40 million worth of DOGE is being held by whales, totaling over 3.5% of their entire portfolio.
DOGE continues to hold its new place as the coin with the 12th largest market capitalization after breaking through a significant resistance line a few days ago. It surpassed Binance USD (BUSD) after hitting the $18 billion market cap barrier. However, DOGE is still well below its record market capitalization of $90 billion recorded in May 2021.
DOGE has long been associated with the tweets of Elon Musk, whose musings on Dogecoin usually correspond well with price changes. But it seems that these latest changes were prompted by real alterations in DOGE’s fundamentals.
