Dogecoin ($DOGE ), the well-known cryptocurrency inspired by memes, has seen a big increase in large transactions in the last day, hinting at possible activity from big investors, or "whales." Data from Into TheBlock shows that the total value of these big transactions, over $100,000 each, nearly doubled in the past 24 hours, jumping from $1.53 billion to a huge $3.01 billion. This means a lot more DOGE is being moved around by these big players, going from 9.74 billion to 17.97 billion coins.

This surge in big transactions comes at the same time as rumors about a possible Dogecoin ETF. People are speculating that just like the excitement around the Ethereum ETF, DOGE could be next in line for its own official investment option.$DOGE

Why might there be a Dogecoin ETF?

Several things seem to be in Dogecoin's favor for ETF approval. Unlike some other cryptocurrencies, DOGE isn't thought to be a security, its futures are already approved by the U.S. Commodity Futures Trading Commission (CFTC), and it has a healthy market value of $24 billion, making it the eighth biggest cryptocurrency.

It's interesting to note that Billy Markus, one of the creators of Dogecoin using the name Shibetoshi Nakamoto, has made a light-hearted comment about the ETF rumor.

Whether these rumors are true or not, the recent increase in big transactions suggests that there's a lot of interest in DOGE, and investors are keeping a close eye on whether this leads to a price jump.