The Dogecoin price has managed to contain the downside losses unlike peers such as Shiba Inu, amid strategic buying and whale activity.
Recent on-chain data reveals the influence of strategic whale investors on DOGE’s stable price movement.
All eyes of investors are currently on the world’s largest memecoin Dogecoin (DOGE), which is currently stabilizing just below the $0.08 mark, showing a marginal 1.7% decline in the initial week of February 2024. However, optimistic large investors could instigate a favorable breakout by purchasing during this dip.
The memecoin sector has encountered a lukewarm beginning to February 2024, with notable performers such as Shiba Inu experiencing a 4% dip, BONK declining by 9%, and PEPE down by 5% between January 31 and February 7.
In contrast to other major meme coins, Dogecoin has displayed relatively resilient performance, with a decrease of less than 2% during the first week of February.
Recent insights from on-chain data indicate that strategic

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