$DOGE Dogecoin (DOGE) Skyrockets 300% in 48 Hours in Key
Whale Metric.
An analysis of data provided by Into TheBlock has
revealed a sharp spike in large transactions involving
Dogecoin (DOGE), the largest and most popular meme
cryptocurrency. For instance, the number of
transactions, each exceeding $100,000, has nearly
tripled in the past two days.
Thus, the volume of DOGE involved in such
transactions rose from 6.52 billion DOGE to 17.69
billion DOGE in just 48 hours. In terms of dollars, this
represents a jump from $1.04 billion to $2.86 billion.
The metric provides valuable insights into the activities
of institutional players and "'whales" on the market.
The increase in large transaction volume indicates
growing interest in Dogecoin from influential whales.
DOGE price pump coming?
It may also hint at the growing enthusiasm of these
investors toward the valuation of D0GE, who may be
anticipating a surge in the price of the popular mem y
cryptocurrency. It is likely that major players recognize
DOGE as a potentially lucrative asset for investment or speculative purposes.
The total number of DOGE transactions exceeding the
equivalent of $1 00,000 currently stands at 1,520, up
from 975 transactions recorded just 48 hours earlier.
As DOGE continues to gain momentum and
acceptance, the coming days are likely to see further
changes in market dynamics.
Currently, Dogecoin is priced at $0.16 per token, giving
it a total market capitalization of $23.1 billion and
making the meme cryptocurrency the eighth largest
digital asset, according to CoinMarketCap.
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