$ETH Broken 🔥Dogecoin’s Parabolic Growth in Key Metrics Amid Whale Activity

Dogecoin’s on-chain activity has increased dramatically over the past 24 hours, with key indicators pointing to a potential bullish trend for the popular meme cryptocurrency.

Net flows to large holders of Dogecoin experienced significant growth, going from negative to 386 million DOGE. Large holder net flows are an important indicator of market sentiment, and surging net flows show active accumulation by important players, suggesting a bullish stance.

Peaks in net flows typically coincide with market bottoms, indicating heavy buying during corrections.

The surge in inflows from large holders further confirms the bullish sentiment surrounding Dogecoin, with inflows to large holder wallets increasing by nearly 200% to 425.97 million DOGE in the past day. This buying activity is largely driven by whales and other influential entities and is definitely worth watching closely in the coming days.

In contrast, Dogecoin outflows from the wallets of large holders decreased significantly, from 222.14 million DOGE to 39.98 million DOGE. Dogecoin’s large holder net flow indicator has shown almost parabolic growth amid increasing inflows and decreasing outflows.

The surge in these on-chain indicators highlights the increasingly active participation of influential players in the Dogecoin market, an optimistic trajectory to focus on.

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