Dogecoin (DOGE), the most popular cryptocurrency, continues to see interesting developments, not only on the price chart but also behind the scenes of the cryptocurrency scene.
According to IntoTheBlock, the past 24 hours have been marked by an increase in activity with the token from major players, or as they are commonly called, whales.
In particular, the number of transactions of at least $100,000 increased, with 1,950 such transactions and a total volume of $2.65 billion. In physical terms, the day was marked by the movement of 21.59 billion DOGE in these large transactions.
In comparison, the previous day, the volume of large Dogecoin transactions was $900 million less, and the number of DOGE coins transferred was 6.32 billion less.
Do whales buy?
Digging deeper, it can be seen that the nature of these transfers was primarily of a purchasing nature.
Thus, Dogecoin inflows to wallets holding at least 0.1% almost doubled over the past day, reaching 445.15 million Dogecoin. Meanwhile, outflows were lower than the previous day but still amounted to 386.51 million Dogecoin. As a result, net inflows to wallets of large Dogecoin holders amounted to nearly 250 million Dogecoin.
Thus, we can conclude that whales were indeed active in the popular cryptocurrency during the period under review. Moreover, their actions within the framework of this activity were bullish in nature.
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