DOGE Whales Are At Action Again, What's Ahead for This Memecoin?
DOGE Whales in Action
According to data from IntoTheBlock, transactions exceeding US$100,000 have seen a dramatic increase. In the last 24 hours, the total value of this large transaction jumped from US$1.53 billion to around US$3.01 billion. This significant increase highlights renewed interest and engagement from major investors in the Dogecoin ecosystem.
Simultaneously, the volume of DOGE moved by whales also experienced a significant increase. This volume grew from 9.74 billion to 17.97 billion DOGE coins, indicating a higher level of activity and movement in the Dogecoin market.
This increase indicates that whales are increasingly viewing DOGE as a viable investment opportunity, perhaps in anticipation of future market developments.
Speculation on Potential Dogecoin ETF Approval
This surge in whale transactions coincides with increasing speculation in the crypto community regarding the potential approval of Dogecoin (ETF). Recent enthusiasm regarding the possible approval of an Ethereum ETF has sparked discussions about DOGE as the next crypto to have its own ETF.
Such a development would be an important milestone for Dogecoin, further legitimizing its position within the broader financial market.
Comments from the Crypto Community
Amidst these rumors, an important post by crypto enthusiast Vee on
The post highlights the dual nature of traditional financial institutions' interest in Dogecoin, noting both its potential benefits and drawbacks.
Billy Markus, one of Dogecoin's Creators, humorously commented on the speculation, noting that a Dogecoin ETF would be ridiculous. Although DOGE originated as a joke, his comments do not detract from the serious investment potential this memecoin has, as proven by recent market trends.
Dogecoin Market Movement
Dogecoin has followed the global crypto market's upward trend, with an increase of 11.2 percent in the past week.
(ApaikCrypto )
