Dogecoin Attracts Whales’ Attention And Ranks In The Top 10

Dogecoin has emerged as one of the most traded assets by this group of investors during the previous 24 hours, according to data from WhaleStats, a website that monitors the activities of significant cryptocurrency holders known as whales.

Thus, out of the top 500 BNB holders, DOGE has had the greatest growth. The fact that the BNB whales purchase wrapped DOGE, the so-called Binance-peg, is also intriguing and makes sense.

We can see that Dogecoin is the thirteenth most popular asset if we look at a sample of the top 100 BNB wallets.

The average size of a BNB whale position in Dogecoin

Dogecoin as calculated by WhaleStats, is 906,368 coins, or $57,650. These investors most frequently invest in BNB, which has an average size of $12,853, and BUSD, where the top 100 whales own stakes worth millions of dollars.

Investors may have bought DOGE because of its pricing, but other people question if it is currently at a low enough level. All last week, Dogecoin traded at or below $0.07 per coin, which is equal to prices in the spring of 2021.

The DOGE quotations daily and weekly charts show that the asset is fluctuating within a significant price range of $0.04 to $0.08. The price is not even above the stable internal level of $0.07 at the same moment.

In this scenario, we might anticipate a decline to the range’s bottom edge as well as a breakthrough and fixing above $0.07. However, it is preferable to watch the state of the cryptocurrency market rather than making any hasty purchases right away.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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