Whales Are Increasing Investments in Dogecoin
The price of meme altcoin Dogecoin hit $0.0902 last week. The asset is gradually strengthening after a strong fall in early February, when it found the bottom around $0.0806.
Addresses controlling from 100 million to 1 billion DOGE have become more active. According to Santiment analysts, whales sharply increased investment in cryptocurrency at the end of last week.
This surge in the activity of large investors has created the conditions for a rebound of the altcoin to $0.0868. In 48 hours, the whales purchased more than 1.06 billion coins worth up to $94.34 million. Thus, their reserves have increased from 26.37 billion to 27.33 billion DOGE.
According to the company analysts, last week saw the highest activity of DOGE whales in 2023. In December, the largest investors controlled only 24.5 billion coins.
