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- Dogecoin, the prominent meme currency, has recently seen a surge in the activity of the DOGE whales in the last twenty fours hours.
- The large transactions by the Dogecoin whales have increased by over 100%.
- DOGE continues to maintain its positions among the top fifteen cryptocurrencies by market cap and currently is a bit bearish by around 2% for the recent twenty-four hours.
According to data by IntoTheBlock, Dogecoin (DOGE) whales have become more active during the last twenty-four hours. There was a 111% surge witnessed in the large transactions.
Although the exact reason for it is not specified, the increase in large transactions is often associated with the rise in activity by institutional players or whales who are buying or selling. The transaction transfers have exceeded $100,000.
At the time of writing, the price of this significant meme currency is $0.133 and stands at the twelfth position by market cap, which is $17,649,956,110.
The possible reason for investors’ positive sentiments could be the recent news that highlighted that Dogecoin is being made available at Bitcoin of America crypto ATM machines all over the US. American users are now facilitated to buy or sell DOGE or even withdraw cash from more than 1,800 ATMs.
Additionally, now a high-end dental clinic in Manhattan, Upper East Dental Innovations accepts Dogecoin (DOGE) and Bitcoin, and Ethereum. The clinic claims itself to be the first and foremost dental clinic to wholeheartedly welcome cryptocurrency in New York.
Dogecoin is currently seeing that around $38 million worth of DOGE is held by whales, totalling over 2.8% of their whole portfolio.
Initially started as a meme currency, DOGE has gained significant popularity over the years and continues to maintain its positions among the top fifteen cryptocurrencies by market cap. It recently surpassed Binance USD (BUSD) after hitting the $18 million market cap barrier.
The coin witnessed it’s All-Time High last May when it hit $0.7376. The coin has 603,108 total addresses holding Dogecoin.
If we talk about the top 100 addresses holding the DOGE tokens, the majority are held by an address that has around 25% of the DOGE tokens, whereas another address holds around 20% of the DOGE tokens, the third-largest holding is with an address that has 10% of the token holdings.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
