- 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.
#Dogecoin whale activity is on the rise! Over 150 $DOGE transactions, each exceeding $1 million, have been recorded in the past 24 hours. pic.twitter.com/04duEybvio— Ali (@ali_charts) June 7, 2024
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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