Dogecoin

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p>Dogecoin (DOGE) has <a href="https://twitter.com/ali_charts/status/1727704876829098382" rel="noopener noreferrer nofollow">witnessed</a> a significant surge in transactions exceeding $100,000 in the past month. This came when the meme coin experienced a substantial price spike.&nbsp;</p>
<h2 id="more-whale-activity">More whale activity&nbsp;</h2>
<p>This sudden spike indicates a newfound interest in <a href="https://u.today/millions-of-dogecoin-doge-shifted-as-bullish-golden-cross-appears" rel="noopener noreferrer nofollow">DOGE</a> from larger financial entities, commonly referred to as "whales" and institutional investors.&nbsp;</p>
<p>The data shows a substantial fluctuation in transaction volumes, with the highest in the last seven days reaching $2.12 billion on Nov. 17, and a low of $965.41 million on Nov. 18.</p>
<p>This trend is particularly notable given Dogecoin's reputation as a more community-focused and less institutionally driven <a href="https://u.today/genesis-vs-gemini-new-twist-in-cryptocurrency-controversy" rel="noopener noreferrer nofollow">cryptocurrency</a>.&nbsp;</p>
<p>Analysts speculate that this increase in whale activity could be a precursor to a significant price movement in the near future.</p>
<h2 id="a-reality-check">A reality check&nbsp;</h2>
<p>Despite the recent surge in transaction volumes and investor interest, Dogecoin remains considerably distant from its all-time high (ATH). It is currently at 89.65% of its peak value, according to CoinGecko <a href="https://www.coingecko.com/" rel="noopener noreferrer nofollow">data</a>. &nbsp; &nbsp;</p>
<p>The current price of DOGE stands at $0.075715, a stark contrast to its historical highs.&nbsp;</p>
<p>Moreover, the market data reveals that over 40% of Dogecoin holders are experiencing losses, even in light of the recent price increase, according to IntoTheBlock <a href="https://www.coingecko.com/" rel="noopener noreferrer nofollow">data</a>. &nbsp;</p>

Dogecoin (DOGE) Sees Surge in Massive Transactions

Table of Contents

U_Today

Other articles published on Nov 23, 2023

XRP Price Surges Despite On-Chain Metrics Decline, Defies Market Trends!

BlackRock Joins Grayscale in SEC Talks Over Bitcoin ETF Structure!

Crypto Prices Today: Market Rebounds With BTC, Pepe Coin, FTT Rallying

GHANA TO HOST THE SECOND EDITION OF AFRICA BITCOIN CONFERENCE

Will XRP Coin Win the Battle Against SEC and Rise in Price?

UNI Coin: Will it Continue to Rise? Analyst Predictions

Join our free newsletter for daily crypto updates!