Whales Are Resuming Their Activities As The Dogecoin Records Over $100K Valued Transactions Happening Daily

The reaction of whales to the Doge has been encouraging lately. An update was released on the official Twitter handle, Santiment, the DOGE network seems to be attracting a lot of attention from crypto whales.

“Whale activity on altcoin networks is quickly picking up steam this week. By counting the amount of $100k+ valued transactions happening daily, we can see that $HEX, $DOGE, $SAND, And $CHZhas increased their large transaction frequencies.”

In a nutshell, the reports imply that whales have been moving around the massive amount of Dogecoins on the network, with a good number of the transactions posting more than $100,000 worth of DOGE.

With the current market reaction to the Dogecoin network, the coin may be challenging some of the bigger chains in the market.

Read Also: The Host Of InvestAnswers Stated Says Solana Is Undervalued When Compared With ETH And Also Stated Crypto Probably Won’t Come To a Recent Low

The recent popularity of Dogecoin among the whale is an indication that the meme is having a bright future.

It is good to know that the coin hasn’t ceased to get support from people like Tesla’s Elon Musk, who recently allow Dogecoin to be a payment method for most companies and also as reported by Cryptolifedigital, Elon Musk stated that Dogecoin is now capable of handling more transactions than the Bitcoin network. And more also, Mark Cuban, previously stated that Doge has more use cases than Cardano ADA.

Read Also: Veteran Peter Brandt And David Gokhshtein Hinted That The Shiba Inu Has Crossed To Its Bullish Period

Dogecoin Network Refuted This Statement

In another tweet released on the 16th of August, the recently launched “Dogechain” On Ethereum Network has nothing to do with Dogecoin.

  • 1373 Posts
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you're a seasoned investor or just starting out, Cryptolifedigital's analysis offers valuable insights into the world of cryptocurrency.