Is Dogecoin only starting its big rally after 70% weekly gains?

Dogecoin whales have been actively increasing their DOGE holdings ahead of the anticipated April Bitcoin halving event.

Dogecoin’s (DOGE) price has experienced a significant surge of approximately 70% this week, fueled by a bullish trend across the cryptocurrency market. This momentum hints at further potential for gains in March, owing to a mix of technical and fundamental indicators.

Dogecoin’s recent price surge comes amid an increase in DOGE holdings among its richest investors, also known as “whales.” For instance, the number of addresses holding more than 100,000 DOGE tokens has risen 0.7% since the year’s beginning.

At the same time, the number of entities with a balance of over 1 million DOGE has witnessed a slight dip after Feb. 12.

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