Dogecoin Whale Activity Surges to $23.35 B in 24 Hours
🐋 Whale Transactions Jump 41%
On-chain analytics from Into The Block reveal a dramatic increase in large Dogecoin (DOGE) transfers—$23.35 billion worth of DOGE moved across whale wallets in a single day, marking a 41.12% surge compared to the previous 24-hour period . This spike significantly outpaces both Bitcoin and Ethereum on-chain activity, where BTC saw a 16.06% volume decrease, and ETH saw a 6.64% drop.
📈 Active Addresses Also Rising
Alongside whale movements, DOGE recorded a 34.9% increase in daily active addresses—157,190 wallets interacted with the network, compared to just 3.75% growth for Bitcoin and 1.39% for Ethereum.
Institutional Accumulation
The scale of whale transfers hints at institutional or high-net-worth interest in DOGE. Reports indicate one whale moved 260 million DOGE off Robinhood—a potential indication of accumulation. Analysts suggest these patterns may signal institutional positioning ahead of a possible market rally.
Retail Hesitance
Despite the surge in whale activity, retail engagement has cooled—trading volumes among smaller investors have dropped approximately 25% . This divergence often precedes major price moves, as whales build positions while retail participants remain on the sidelines.
Price Remains Stable
Interestingly, DOGE’s price hasn’t mirrored the on-chain frenzy. It has remained relatively flat—up only 0.4%—and was even down slightly (~5.9%) around the time of the whale movements.This muted price reaction adds to the intrigue.
📊 Implications & Outlook
Pre-Rally Signal: Historically, whale accumulation often precedes significant moves. The current surge could signal a forthcoming breakout—if retail sentiment catches up.
Institutional Confidence: The magnitude of recent whale transfers suggests growing institutional conviction in DOGE’s future, perhaps tied to rumored ETF or payment-integration developments.