Is Dogecoin’s Bullish Momentum Over After 18% Retreat From Recent Highs? Not Yet, Say Analysts
Posted On October 2, 2024
Dogecoin (CRYPTO: DOGE) may have retraced significantly this week, but whale investors have still not given up on the king of meme coins yet.
What Happened: On Tuesday, popular blockchain research firm Santiment took to X to share its findings of Dogecoin’s recent performance. The firm noted a significant 18% drop from its recent highs on Saturday but highlighted that whales were still very active on the network.
The total number of addresses involved in DOGE transactions daily surged to 63,689 in the past three days, marking the largest 3-day growth in six months.
Additionally, more than 1,200 transactions worth over $100,000 were recorded preceding the local top on Saturday, the highest whale activity since May 26-28.
About The Author
