Dogecoin Whales Stock Up 2.10B Tokens in Record Weekly Buy

Dogecoin is making headlines again as whales have bought 2.1 billion DOGE tokens in just one week. This marks the largest accumulation since January 2024. Large-scale investors (whales) are clearly showing renewed confidence in the dog-themed meme coin. 

Whales Gobble Up Billions of DOGE Tokens

Over the past week, large holders have ramped up their purchases. Data from IntoTheBlock reveals that more than 2.1 billion DOGE tokens were added to wallets. This surge in buying is the most significant since the start of the year. 

Whale activity has been on the rise in recent weeks, signaling a shift in market sentiment. The scale of these transactions is staggering. Investors moved around 16.24 billion DOGE tokens, worth about $2.76 billion, over the past seven days. 

Just in the last 24 hours, whales transferred 8.53 billion DOGE tokens, valued at around $1.29 billion. This level of activity suggests that investors are expecting positive things for Dogecoin.

What This Means for Dogecoin’s Future

As whales buy more DOGE, the price has started to rise. Dogecoin’s price increased by 6.01% over the past week. This aligns with the surge in whale activity, and the meme coin ended October in the green. Many are hopeful that this upward trend will continue.

Along with the price increase, Dogecoin's market cap and trading volume have also grown. The market cap is now $22.12 billion, making Dogecoin the 8th largest cryptocurrency. Trading volume surged by 30.95%, adding to the excitement surrounding the coin.

With whales continuing to stock up on DOGE, market analysts are paying close attention. As long as this trend continues, Dogecoin's price could keep climbing, driven by investor confidence and growing market momentum.