Whale Activity Surges
Despite a recent price drop, Dogecoin has seen a surge in whale activity. These are big investors who make transactions worth over $1 million. Over 150 such transactions have been recorded in the past day, the highest since April.
Whales’ Intentions Unclear
It’s not clear if these whales are buying or selling Dogecoin. If they’re buying, it could be a sign of confidence in the coin’s future value. If they’re selling, it could push the price down further.
Meme Coin Market Struggles
The cryptocurrency market has been falling, and meme coins like Dogecoin have been hit hard. Dogecoin’s value has dropped 7% in the last day, while other meme coins like GME have lost even more.
Conclusion
Whale activity is a sign that big investors are still interested in Dogecoin. Whether their actions will lead to a price rebound or further decline remains to be seen. However, it’s worth keeping an eye on these whales, as their moves can have a significant impact on the market.
