Despite a recent dip in Dogecoin (DOGE) value, whale investors have snapped up over 700 million DOGE in the past 72 hours, equivalent to around $112 million. This accumulation trend coincides with a bearish trend reversal since May 29, suggesting a potential recovery for the meme coin.
In addition, other meme tokens such as Shiba Inu (SHIBA) and Pepe (PEPE) have also seen increased investor interest. Over 4 trillion SHIB tokens, valued at approximately $103 million, have been transferred to crypto exchanges in the past two weeks, indicating heightened trading activity.
Meanwhile, PEPE has gained almost 130% over the past month, with a whale investor making nearly $5 million in profit from the PEPE token within a month. This investor deposited all 660.7 billion PEPE tokens, worth $9.52 million, into a Binance wallet.
These trends suggest a renewed interest in meme coins, with traders shifting their focus to these tokens. This could potentially lead to a surge in their value, making them a worthwhile investment.