In the last 24 hours, Dogecoin (DOGE) has seen an increase in whale activity. Major investors have purchased over 1 billion DOGE, boosting the total whale holdings to around 30.87 billion DOGE. These wallets, holding between 100 million and 1 billion DOGE, have been actively accumulating throughout recent price fluctuations. During this press, Dogecoin is trading at $0.1081, showing a 3.32% increase in the last 24 hours. Its 24-hour trading volume stands at $936,829,777.
#Dogecoin whales bought over 1 billion $DOGE in the last 24 hours, totaling roughly $108.7 million! pic.twitter.com/2aSevCd7Lm
— Ali (@ali_charts) October 4, 2024
Steady Growth in Whale Accumulation
From September 18 to October 4, 2024, wallets holding large amounts of DOGE have shown consistent growth. The accumulation trend is represented by a yellow-shaded area in recent chart data. This area highlights the rise in whale activity, with significant increases during key price movements.
This buying activity is linked to falling prices. The whales appear to take advantage of these dips to increase their holdings. Their behavior shows a clear pattern of accumulation, especially when prices fluctuate.
Whale Behavior in Late September
Dogecoin’s price has been volatile over the past few weeks. In late September, the price surged from $0.104 to a peak of $0.12 by September 29. However, the rise did not last long, and the price dropped to $0.104 by October 2. Despite the drop, whales continued to buy more DOGE.
On September 26, the accumulation trend became more visible. Whale wallets rapidly increased their holdings, especially during the price declines. This trend suggests that large investors are strategically buying when prices fall. Their activity may impact the overall supply of DOGE in the market.
Recent Whale Purchases
As of October 4, whale wallets now hold over 30.87 billion DOGE. In the last 24 hours alone, they purchased over 1 billion DOGE, worth about $108.7 million at the current price. This shows a growing interest in Dogecoin among large investors, especially when prices drop.
