Large investors in Dogecoin have bought $112 million worth of DOGE, as more investors in the crypto market are turning their attention towards meme coins.There has been a significant increase in DOGE purchases by big Dogecoin holders, with an amount of $112 million, as more and more investors are shifting their focus to meme coins in the cryptocurrency market.

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DOGE, a popular meme coin, has recently garnered attention from crypto investors, resulting in a positive effect on its previously sluggish performance.

**Huge Increase in DOGE Holdings by Dogecoin Whales**

Based on analysis by crypto expert Ali Martinez, DOGE whales have acquired more than 700 million DOGE (equivalent to $112 million) in the past 72 hours. This aligns with the current trend of investors focusing on meme coins as a lucrative investment option.

Trading firm QCP Capital also corroborated this trend, noting a growing interest in high-risk meme tokens like Shiba Inu (SHIBA), Dogecoin (DOGE), and Pepe (PEPE). These meme coins have gained popularity, with both Shiba Inu and Pepe seeing double-digit increases recently.

Industry professionals speculate that this surge in DOGE holdings by investors is in anticipation of potential price surges. DOGE has been lagging behind other top-performing meme coins, indicating potential for a price rally in the future.

The renowned crypto analyst Michael van de Poppe identified Dogecoin as a “safe bet” during the current market cycle, highlighting the sustained popularity of meme coins like Dogwifhat, BONK, FLOKI, and Book of Meme (BOME). Van de Poppe foresees a breakout for DOGE, possibly reaching a value of $1 during this market cycle.

Martinez, similarly, predicts a parabolic surge for Dogecoin in the coming days, comparing the present market sentiment to early February when the meme coin’s value skyrocketed by 200%.

**Why Dogecoin Is the ‘Safest Bet’ in This Market Cycle**

Altcoin Sherpa, another crypto expert, considers DOGE’s climb to $0.40 as one of the most reliable investments during this market cycle. The analyst notes that retail investors are likely to increase their holdings of Dogecoin, which could prompt a significant price surge. Additionally, Altcoin Sherpa cites the influence of Elon Musk, who has shown a keen interest in Dogecoin, stating that even a single tweet from him could have a substantial impact on the meme coin’s value. The analyst also highlights DOGE’s high liquidity and low risk compared to other meme coins.

*The main image used is from Getty Images, and the chart is from TradingView.*