Dogecoin (DOGE) Accumulation Trend Among Whales Intensifies as 2.96B DOGE Flow into Whale Wallets in 24 Hours

Despite increased selling pressure, this wave of accumulation reflects the continued interest in DOGE, with 2.96 billion DOGE added to whale wallets in just one day.

According to on-chain data from IntoTheBlock, large investors, or "whales," who hold at least 0.1% of the circulating supply, added a significant amount of Dogecoin (DOGE) to their wallets over the past 24 hours.

The total DOGE inflows into these large investor wallets reached 2.96 billion DOGE, a substantial increase compared to the 563.83 million DOGE that entered these wallets during the previous 24 hours. This marks a sharp increase of 425.65%, or 2.396 billion DOGE, in just one day.

Notably, the price of DOGE experienced a surge during this time, reaching a peak increase of 29.69% as the major meme cryptocurrency encountered a buying wave.

The data also showed that outflows from the same wallets also increased, reaching a total of 2.15 billion DOGE over the course of the day. In comparison, the outflows amounted to 1.42 billion DOGE the day before, indicating an increase of 51.4%, or 730 million DOGE.

Despite the increase in outflows, which were higher than the previous day, the rate of Dogecoin accumulation by large holders was significantly higher, as evidenced by the net flow, which stood at 811.45 million DOGE, a stark contrast to the net outflow of -856.14 million DOGE the day before.

This wave of accumulation, as indicated by the massive increase in whale activity, highlights the continued interest in DOGE, especially among large holders in the cryptocurrency space during the current market environment.

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