In October, known as "Uptober," cryptocurrency market participants are closely monitoring the on-chain data of their favorite cryptocurrencies. One metric that can provide insights into the current speculation is Large Transaction Volume by IntoTheBlock. An analysis of Dogecoin (DOGE) reveals that whale activity has increased, with the volume of transactions over $100,000 jumping by 62.78% in the last 24 hours. In terms of dollars, this corresponds to an increase from $612.38 million to $931.55 million. Despite this bullish activity, the price of DOGE has dropped by over 8.1% in the past day. However, the recent breakout in early September marked the end of a downtrend and potentially signaled the start of a bull run. With high hopes for October, the increased activity by whales in DOGE reflects their involvement and potential influence on the current crypto market.
- Content Editor ( u.today )
- 2024-10-01
Dogecoin (DOGE) Whales Are Back With Nearly $1 Billion