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Dogecoin whales' activity rises to a six-month high, signaling a strong bullish indication
Dogecoin whale activity has increased to its highest level in six months, suggesting a potential bullish shift for the cryptocurrency. Blockchain data from Santiment reveals 739 transactions exceeding $100,000 in the past 24 hours. This represents a significant uptick in broad investor participation.
Whale activity in the Doge project reaches a critical stage
Santiment, a leading blockchain analytics firm, reported that Dogecoin whale activity hit a six-month peak. The company tracked 739 large transactions in a single day. These transactions, each valued at over $100,000, indicate growing interest from major holders. As a result, the market is now watching for future price movements.
Additionally, the number of wallets holding more than 100 million Dogecoin has reached a record level. Currently, 149 wallets of this type hold a total of 108.5 billion Dogecoin, worth approximately $11.6 billion at current market prices. Santiment noted that this cumulative trend aligns with the recent upward price movement.