Dogecoin ($DOGE ) has recently experienced a significant surge in activity from large-scale investors, commonly referred to as whales.
According to data from IntoTheBlock, transactions exceeding US$100,000 have seen a dramatic increase. In the last 24 hours, the total value of this large transaction jumped from US$1.53 billion to around US$3.01 billion. This significant increase highlights renewed interest and engagement from major investors in the Dogecoin ecosystem. Simultaneously, the volume of #DOGE moved by whales also experienced a significant increase. This volume grew from 9.74 billion to 17.97 billion DOGE coins, indicating a higher level of activity and movement in the Dogecoin market. This increase indicates that whales are increasingly viewing $DOGE as a viable investment opportunity, perhaps in anticipation of future market developments.
This surge in whale transactions coincides with increasing speculation in the crypto community regarding the potential approval of Dogecoin (#ETF ). Recent enthusiasm regarding the possible approval of an Ethereum ETF has sparked discussions about DOGE as the next crypto to have its own ETF. Such a development would be an important for Dogecoin, further legitimizing its position within the broader financial market.
Lately Dogecoin has followed the global crypto market's upward trend, with an increase of 11.2 percent in the past week.
However, in the last 24 hours, this increase was only 0.7 percent, with DOGE currently trading at around US$0.168. This price movement indicates cautious optimism among investors, reflecting broader market sentiment.
