According to data from IntoTheBlock, in the past 24 hours, a total of 2.96 billion DOGE flowed into the wallets of large Dogecoin investors—those who hold at least 0.1% of the circulating supply. For comparison, the amount was only 563.83 million DOGE in the previous 24 hours.
Daily Inflow Surges Over 425%
Within a single day, the DOGE inflow rose by 425.65%, representing an increase of 2.396 billion DOGE. During this period, the price of this popular meme cryptocurrency peaked with a 29.69% gain.
DOGE Outflows Also Showed Significant Growth
Interestingly, the volume of DOGE outflows from large wallets also rose significantly to 2.15 billion DOGE during the day. The previous day, the outflow was 1.42 billion DOGE, marking an increase of 51.4%, or 730 million DOGE.
Despite the increase in outflows, the amount of DOGE flowing into large wallets remained much higher, signaling a strong buying interest.
Positive Net Flow: 811 Million DOGE
The result of these shifts was a positive net flow of 811.45 million DOGE, a sharp contrast to the -856.14 million DOGE seen the previous day.
Strong Accumulation Reflects Whale Confidence
Despite the selling pressure, this wave of DOGE accumulation highlights the continued interest in Dogecoin among large investors. In just one day, 2.96 billion DOGE were added to their wallets, indicating strong confidence among Dogecoin whales in its short-term growth.
Dogecoin Gains Popularity Among Big Players
This massive increase in whale activity positions Dogecoin as a favored choice among large holders in the current cryptocurrency market.
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