Whales are the main hope for Dogecoin$DOGE

Whales will play a crucial role in the future fate of DOGE. Over the past few days, the number of transactions over $100,000 has sharply increased. This figure reached 9,410 — a peak since November 2021. Such growth in the number of large transactions indicates high whale activity, which has historically stabilized the meme coin during periods of volatility.

If whales maintain their current level of activity, they will be able to provide liquidity and support in the market to protect DOGE from further declines. However, this support must be very strong, as retail investor activity remains low.

The Chaikin Money Flow (CMF) indicator for Dogecoin is near the neutral line, signaling minimal capital inflows into the market. Investors are exercising caution, possibly due to uncertainty in the cryptocurrency market as a whole, or due to decreasing interest in DOGE.

Without new buyers, the macro dynamics of Dogecoin will weaken, making it dependent on whale activity and external factors. $HBAR $NEAR