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Dogecoin

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Dogecoin has emerged as one of the clear winners in the last week after its price climbed over 10% to secure the $0.075 level. This incredible rally has brought the meme coin to its highest level in the last three months. However, it may only be getting started as <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-meteoric-37500-26/">multiple DOGE metrics</a> continue to exhibit bullishness. 
<h2 class="p2" id="dogecoin-whales-still-in-the-game">Dogecoin Whales Still In The Game</h2> 
One of the most important metrics that show how investors are looking at a coin like Dogecoin is what the large investors are doing. Initially, when the crypto market rally began and <a href="https://www.newsbtc.com/news/is-dogecoin-poised-for-a-big-leap/">DOGE</a> started to move up, the whale addresses remained muted without showing too much activity. But that has started to change with a drastic rise in the whale movements. 
According to <a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=all&amp;chart=all" rel="nofollow">data</a> from IntoTheBlock, in the last 24 hours, <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-whales-bought-billion-doge-santiment/">Dogecoin whales</a> have carried out over $1.48 billion worth of transactions. This is in stark contrast to last week’s figures coming in at an average of $600 million in daily transactions by these large holders. 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-559537 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.19.02.png?w=460&amp;resize=460%2C418" alt="Dogecoin large transactions" width="460" height="418" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.19.02.png?w=1280 1280w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.19.02.png?w=460&amp;resize=460%2C418 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.19.02.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.19.02.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.19.02.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.19.02.png?w=1140 1140w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
It means that there has been a more than 100% rise in daily large transaction volume for Dogecoin, suggesting that the whales are coming out to play. The spike also began around November 4 which is when the <a href="https://www.newsbtc.com/news/dogecoin/can-dogecoin-rally-135-what-needs-to-happen/">DOGE price</a> had begun moving upward quickly. This could mean that these whales have been buying large quantities, leading to a drastic decrease in the available <a href="https://www.newsbtc.com/news/dogecoin-20-gains-on-the-horizon/">DOGE supply</a> on the open market. 
The number of large transactions reached 1,320 on November 6, just 100 transactions shy of the asset’s October highs. IntoTheBlock also shows a leaning toward bullishness with more addresses being bullish compared to those which are bearish. 
<h2 class="p2" id="doge-volumes-are-on-the-rise">DOGE Volumes Are On The Rise</h2> 
Dogecoin whale transactions and volumes are not the only <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-poised-for-a-deep-pullback-after-failing-to-hold-key-resistance-analyst/">Dogecoin metrics</a> that have been on the rise. The meme coin’s daily trading volume has also exploded during this time as well, with a 64% increase in a 24-hour period. 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-559539 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=460&amp;resize=460%2C269" alt="Dogecoin daily trading volume" width="460" height="269" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=2620 2620w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=460&amp;resize=460%2C269 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/Screenshot-2023-11-07-at-12.20.42.png?w=1140 1140w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
This drastic rise has brought its daily trading volume above $870 million with the possibility of crossing $1 billion in the coming days. This exponential rise in daily trading volume indicates rising interest, especially with the spot buying and selling. 
During this time, the <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-dominates-holders-in-profit/">DOGE profitability</a> has been rising quickly, bringing 53% of all holders back into profit. This has contributed to the bullish sentiment of the meme coin and could help to trigger more capital inflow into Dogecoin as investors try to take advantage of the price recovery. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/wUS4Rt7T/" alt="Dogecoin price chart from Tradingview.com (DOGE whales)" width="2650" height="1758">

Dogecoin Climbs Above $0.075 To 3-Month High, But Metrics Show It’s Far From Done

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