Dogecoin Approaches $0.09 as Whales Increase Trading Volume.

#Dogecoin (DOGE) on Monday continued its upward trajectory, breaking through a key resistance level and eyeing a milestone in its nearly decade-long journey. The value of the cryptocurrency, known for its #ShibaInu mascot, rose to $0.089520 on Binance, an increase of nearly 4% during the day.

As Mem coin's rise approaches its tenth anniversary on December 6, 2013, on-chain data highlights strong profitability and significant whale activity among holders. Last week, Dogecoin recorded more than $11.94 billion in large transactions, highlighting the growing confidence of heavyweight investors.

Analysis of IntoTheBlock metrics shows that the majority of #DOGE wallets are in profit and the price recently peaked at $0.090150. Since November 15, the Network Value to Transaction Ratio has remained stable, indicating the potential for positive momentum to continue. Whale wallets actively accumulating Dogecoin and holding between 10 million and 1 billion coins further support growth prospects.

The enthusiasm for Dogecoin is reflected in its trading performance, briefly reaching $0.08978 today, up over 8%. The coin's month-on-month growth is impressive at around 30%, indicating a strong rally that could soon test the $0.1 threshold.

Traders have embraced #Dogecoin's momentum, contributing to a 75% increase in trading volume, which reached $920 million in the past day. The influence of whale owners is evident in the weekly transaction volume exceeding $1 billion.

In addition, daily active addresses increased by a third to over 82,000, showing users' growing interest in cryptocurrency. Dogecoin's market cap is currently around $12.8 billion and could be poised for further gains if #Bitcoin continues its current uptrend and leads a broader market rally.
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