Whale Activity Drives $2.65B in Dogecoin Transactions

Dogecoin (DOGE) has seen some notable action recently, not just in terms of price but also in activity among major holders.

Recent data shows a spike in large transactions over the last 24 hours, driven by large investors.

The number of transactions worth $100,000 or more surged to 1,950, with the total volume reaching $2.65 billion. This represented the movement of 21.59 billion DOGE in a single day.

Compared to the previous day, large transaction volumes rose by more than $900 million, and 6.32 billion more DOGE coins were involved. Diving deeper into the data, the increase appears to be mostly buying activity, as wallet inflows saw a significant uptick.

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Wallets holding at least 0.1% of the total Dogecoin supply saw their balances swell by 445.15 million DOGE, while outflows dropped to 386.51 million DOGE. This led to a net inflow of nearly 250 million DOGE into these large wallets, suggesting bullish sentiment among big players.

Overall, the recent surge in whale activity indicates a renewed interest in the meme coin, with buying pressure on the rise.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.