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Dogecoin Whale Activity Surges as Trading Volume Soars

Published 06/08/2024, 02:19 PM
Updated 06/08/2024, 02:45 PM
Dogecoin Whale Activity Surges as Trading Volume Soars
DOGE/USD
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  • Dogecoin whale activity has surged, indicating growing institutional interest.
  • Trading volume has increased significantly, reflecting heightened market activity.
  • Despite a minor price dip, strong whale activity and high volume suggest a positive outlook.

Whale activity has surged among Dogecoin (DOGE) investors. According to on-chain analyst Ali Martinez, more than 150 DOGE transactions exceeding $1 million each occurred within the past 24 hours.

This spike in high-value transactions suggests growing interest from large investors in Dogecoin.

Dogecoin’s 24-hour trading volume also increased significantly, surging by 47.62%, according to CoinGlass data. This rise to $1.32 billion indicates heightened market activity and investor engagement.

Furthermore, according to IntoTheBlock, a remarkable 84% of Dogecoin holders are currently in profit at the current price. This high percentage of profitable holdings reflects Dogecoin’s positive momentum, with many inv…

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