Dogecoin whales continue to accumulate funds in the belief that the price will rise.
According to popular cryptocurrency analysis, whales in Dogecoin (DOGE) purchased 210 million DOGE during the recent correction period. This move indicates that large investors are using correction periods as an opportunity to accumulate.
The data shows that whale purchases of Dogecoin (addresses with a balance of 10 million to 100 million DOGE) have increased, indicating that the market is supported by this sector despite the price decline. This whale accumulation move is usually considered a sign of long-term confidence in the market.
The current Dogecoin price movements and strategic whale purchases create a dynamic that investors should watch carefully. These accumulations could indicate the possibility of the market recovering after short-term corrections.
With a market cap of $60 billion, Dogecoin stands out as the largest meme coin in the market. According to CoinGecko data, DOGE has generated a daily trading volume of $7.2 billion, posting a 327% return in one year.
