Amid a growing market across most cryptocurrencies, Dogecoin Whales are further buying into the hype by investing more in DOGE. Large Dogecoin holders are purchasing more coins rather than selling, and have swooped up an additional $127 million worth of DOGE.

According to IntoTheBlock, the Dogecoin Whale investors picked up over 1.32 billion DOGE in 24 hours on Tuesday, accumulating to around $127 million. Large transactions of many crypto, including Dogecoin, have seen a slight drop, likely due to the growing price of Doge. Most holders are continuing to hold on as they see DOGE will likely rally a bit more before a sudden sell-fest. However, these whales appear to see an even bigger rise in the dog-themed coin’s price and want to capitalize before the price gets significantly higher.

IntoTheBlock에 따르면 Dogecoin Whale 투자자들은 화요일 24시간 동안 13억 2천만 개 이상의 DOGE를 획득하여 약 1억 2,700만 달러에 이르렀습니다. Dogecoin을 포함한 많은 암호화폐의 대규모 거래는 Doge의 가격 상승으로 인해 약간 감소했습니다. 대부분의 보유자들은 DOGE가 갑작스러운 매도 축제가 있기 전에 조금 더 반등할 것으로 예상하면서 계속해서 버티고 있습니다. 그러나 이 고래들은 개 테마 코인의 가격이 훨씬 더 크게 상승하는 것을 보고 가격이 크게 오르기 전에 자본화를 원하는 것으로 보입니다.

Over the weekend, Dogecoin achieved the $0.10 threshold, and while it has since fallen just underneath that, whales expect the coin to creep back up to that number again. The Dogecoin open interest has been on the decline alongside the price which could explain the fall in price. On the other hand, many market watchers are bullish on the cryptocurrency market entering the end of the year into 2024. Dogecoin is one of the leading meme-coin crypto on the market, along with Shiba Inu.

With expectations of the rally to continue, another crypto whale may likely wake up and swoop in on the growing potential of Dogecoin or other cryptocurrencies. Therefore, a major sell-off may also be imminent to close out 2023.

랠리가 계속될 것이라는 기대로 인해 또 다른 암호화폐 고래가 깨어나 도지코인이나 다른 암호화폐의 성장 잠재력에 급습할 가능성이 높습니다. 따라서 2023년을 마감하는 대규모 매도가 임박할 수도 있습니다.

Currently, Dogecoin is trading at $0.09808, with a global market cap of $13.95B, according to CoinMarketCap.