Wealthy investors amped up their Dogecoin (CRYPTO: DOGE) purchases over the last two weeks, accelerating the meme coin’s recovery from recent lows.
What Happened: In an X post on Tuesday, influential cryptocurrency analyst and trader Ali Martinez highlighted that over 200 million DOGE tokens, worth $38.70 million at current prices, have been accumulated in the past two weeks, indicative of their long-term conviction in the coin despite fluctuations.
These investors bought the dip when Dogecoin plunged to a yearly low of $0.146 two weeks ago. Since then, the world’s leading meme coin has rebounded by 32.53%.