The world’s largest meme coin Dogecoin (DOGE) has been on a strong footing gaining more than 25% over the past week. On Sunday, March 31st, the Dogecoin price gained an additional gained an additional 7.29% moving all the way to $0.2156 with its market cap crossing $30 billion. Since the beginning of 2024, DOGE has already gained 134% so far.
Dogecoin Whale Activity Jumps
On-chain data provider Santiment reported that the strong momentum in meme coin Dogecoin (DOGE) comes on the backdrop of strong whale activity.
Currently positioned as the top meme coin by market capitalization and holding the 8th position overall in the cryptocurrency market, DOGE’s recent uptick is attributed to substantial dormant whales reactivating and moving their DOGE holdings back into circulation. Interestingly, this surge lacks the usual fear of missing out (FOMO) sentiment that typically precedes market tops, suggesting there’s more fuel left in this rally going ahead.
Courtesy: Santiment
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