The post 61 Billion Dogecoin (DOGE) Breaks One-Year Record Amid Mind-Blowing Rally appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In a single day, Dogecoin recorded an incredible 61 billion DOGE in large transactions, shattering a one-year record for whale movements. Concerns about what might be going on behind the scenes have been raised by this abrupt increase in whale-related activity.  Large transactions indicate that whales, or major holders, are actively involved in the market, which may indicate a significant redistribution or accumulation of assets. Due to the size of their transactions, whales have the ability to greatly affect the price of Dogecoin, so high levels of whale activity are frequently a sign of impending price volatility. DOGE/USDT Chart by TradingView   In line with an intense rally that has driven DOGE prices to yearly highs, an examination of the on-chain data shows that Dogecoin’s transaction volume is still high, with over 60 billion DOGE moved in the last 24 hours. The vast majority of Dogecoin holders are profiting, as evidenced by the fact that 96.18% of addresses are currently in the money, according to IntoTheBlock’s analysis.  Related This positive on-chain indicator lends credence to the idea of robust market sentiment and the potential for further upward movement. In the meantime, Dogecoin’s price has skyrocketed in recent weeks, approaching $0.40. Due to Dogecoin’s renewed popularity, retail investors have also returned to the market as a result of…

---

Filed under: News - @ November 15, 2024 7:24 pm