largest memecoin dogecoin 
$0.108079 (DOGE) has retreated 18 percent since the peak it reached last Saturday. However, according to on-chain data compiled by Santiment, the bullish momentum of whales on the altcoin has not ended yet. Although large investors took profits just before the peak, their activity on the network is still at very high levels.
Whale Transactions and Address Mobility in Dogecoin Reached Record Levels
Recently, there has been a huge increase in wallet addresses on the Dogecoin network, and activity on the chain has reached its highest level in the last 7 months. Additionally, whales making transactions worth over $100,000 constitute a significant portion of the activity on the network. This intense activity has led to Dogecoin being driven by whales even though its price has dropped recently. altcoinIt shows that he has not yet fully withdrawn from .
According to the latest data, 63 thousand 689 active wallet addresses in the Dogecoin network made many transfers within 3 days. This corresponds to the highest wallet address activity for DOGE since April. At the same time, 1,203 whale transactions took place just before the price peak on September 28. This is the highest since May 26-28 whale activity It was recorded as.
Despite the recent pullback in Dogecoin’s price, whales’ intense activity in the altcoin DOGEIt is considered an important signal for future price movements. Usually, activity among large investors is one of the critical factors affecting the course of the market, and this may also be true for Dogecoin.
This high activity of Dogecoin whales indicates that the bullish expectations in the market are not over. Whales can cause the price to rise again by making bulk purchases, especially at low levels. However, what strategy retail investors will follow in this process is also of great importance for the course of the price.
Latest Situation in DOGE
Mainnet presence of the Dogecoin network at the time of press DOGE coin It is trading at $0.1082, with a decrease of 8.64 percent in the last 24 hours. Data reveals that the altcoin’s trading volume increased by 42.59 percent to $1.31 billion in the same time period.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
