Whale activity surged, with trading volume reaching $23 billion

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Surge in whale activity:

Trading volume and increase: In the past 24 hours, the total amount of large transactions of DOGE exceeded $23 billion, with whale activity increasing by 41%. This significant growth reflects the entry of institutional investors and large funds into the market, potentially boosting DOGE's liquidity and price stability.

90 million DOGE accumulation: Reports indicate that whales purchased 90 million DOGE within two days, and this large-scale buying action demonstrates high confidence in the market. Whale accumulation often represents investors' long-term optimism for the asset, which could be a bullish signal.

Market sentiment and liquidity: Participation of institutional investors: The participation of large investors and institutions typically increases market liquidity, driving prices upward. This indicates that DOGE has not only attracted the attention of retail investors but also gained more institutional investment, which helps support DOGE's stability and upward potential.

Liquidity and price stability: Active trading among whales also means increased market liquidity, which is crucial for price stability. Whale accumulation and trading may provide price support in the near term, especially in a bullish market sentiment.

Market position of DOGE:

The current price of DOGE is $0.3261, up 2.8% in the past 24 hours. Although price volatility remains high, the increase in whale activity indicates confidence in the future of the DOGE project, especially in the current bullish market cycle.

Currently, DOGE remains one of the largest meme coins, with high market participation and a market capitalization of $47.4 billion. In comparison, SHIB (Shiba Inu) has a market capitalization of $47.52 billion, highlighting the competitive relationship between DOGE and SHIB in the market.

Future trends:

Given the continued purchases by whales and enhanced market liquidity, DOGE may maintain strong upward momentum in the short term. Large transactions in the market may also support the price of DOGE, further pushing it to break through new price ranges.

In the coming months, as institutional participation increases, DOGE may enter a more stable upward trend, especially if market sentiment remains bullish.

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