Dogecoin Whales Spent 700 Million DOGE Shopping.



Dogecoin whales have net bought a lot in the previous three days, according to on-chain statistics.


Dogecoin Whales' Holdings Have Increased


DOGE whales recently accumulated a lot. The Santiment analytics firm's “Supply Distribution” tracks the entire Dogecoin supply held by wallet groups on-chain.



The addresses or investors are separated into various cohorts by their coin balance. The 1 to 10 coins category comprises all addresses with 1 to 10 DOGE. The Supply Distribution would measure the entire supply held by investors meeting this requirement.


Bitcoin-Gold Correlation Is Rising: What It Means
In this topic, “whales” are important. These holders have 100 million to 1 billion DOGE. The current Dogecoin conversion rate makes the two extremes of this range $16.1 million and $161 million.


Whales are huge, which makes them important in the network. These investors' supply trends may be used to follow their activity.


The graph shows that Dogecoin whales have increased their holdings. Over the last three days, these massive holders have acquired 700 million DOGE (worth roughly $113 million).


This purchase coincides with a modest bitcoin price drop. These investors seem to think the coin's present values are lucrative entry locations. Naturally, large money investors expressing interest in the asset is optimistic.


Related: PEPE Falls 15%, Leaves Top 20 Crypto List
The purchasing frenzy increased this group's supply to 30.91 billion DOGE. This indicates whales control 21.4% of memecoin circulation.


DOGE's whale purchasing has improved, but SHIB's hasn't. In another X post, Ali noted that centralized exchanges had received $103 million in SHIB in recent weeks.


Because investors deposit to these platforms for selling, these high deposits may indicate Shiba Inu whales are selling or ready to sell.



#altcoins #DOGE #memecoins $DOGE