$DOGE In the past twenty-four hours, Dogecoin investors purchased over one billion tokens worth nearly 200 million US dollars. This large volume of purchases has raised this group of investors' share of the circulating supply of Dogecoin to about 50%, a figure that market analysts consider highly significant.

According to Onchain data published by renowned analyst Ali Martinez, major investors in the market currently hold more than 72.64 billion Dogecoin. These purchases have led to a decrease in the open market supply, which could result in an increase in the cryptocurrency's price if demand stabilizes or increases.

One of the factors affecting whale behavior recently is the likelihood of approval for the first exchange-traded fund for Dogecoin in the United States. Companies like Bitwise, 21Shares, and Rex Shares are working to launch this investment tool. The likelihood of approval for the fund has risen from 56% on August 3 to 74% in just a few days.#BitcoinSPACDeal