Whale activity surges, trading volume reaches $23 billion

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Whale activity surges:

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

90 million DOGE accumulation: Reports indicate that whales purchased 90 million DOGE within two days, demonstrating high confidence in the market. Whales' accumulation often represents investors' long-term optimism about the asset, which could be a bullish signal.

Market sentiment and liquidity: Participation of institutional investors: The involvement 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 to promote DOGE's stability and upside potential.

Liquidity and price stability: Active trading by whales also means increased market liquidity, which is crucial for price stability. The accumulation and trading of whales may provide price support in the near future, especially under bullish market sentiment.

Market position of DOGE:

The current price of DOGE is $0.3261, with a 2.8% increase in the last 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 bull market cycle.

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

Future trends:

Given the continued purchases by whales and the increase in market liquidity, DOGE may maintain strong upward momentum in the short term. Large transactions in the market may also provide support for DOGE's price, further promoting its breakthrough into new price ranges.

In the coming months, as institutional participation increases, DOGE may enter a more solid upward trend, especially under sustained bullish market sentiment.

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