Whales Drive Dogecoin to 10-Week High; Record Holdings
Dogecoin climbed more than 11% to a 10-week high after whale activity spiked: 149 wallets with 100M+ DOGE hold a record 108.52 billion and 739 transfers of $100,000+ occurred.
Dogecoin rose more than 11% to reach a 10-week high as on-chain data showed increased activity among very large holders. Analytics firm Santiment recorded 149 wallets holding at least 100 million DOGE and 739 transfers of $100,000 or more in a single day.
At the time of reporting, DOGE traded around $0.109, up about 2.4% over the previous 24 hours. The broader crypto market slipped roughly 0.7% over the past week.
Santiment reported that the 149 large-holder wallets now control a record 108.52 billion DOGE, which the firm estimated is worth about $11.6 billion. The firm also noted the token has gained roughly 14% over the past 10 days and wrote, “The meme coin’s +14% price rise over the past 10 days is very likely not just a coincidence.”
The 739 transfers of $100,000 or more represent a six-month peak in large-transfer activity, according to Santiment. The record for concentrated holdings and the spike in large transfers occurred on the same day.
Dogecoin moved to its highest level in ten weeks on Wednesday. Over the same period, many of the top 100 cryptocurrencies showed weekly declines while on-chain movement among large addresses increased.
Santiment published the figures on X. The data points include wallet counts, transfer volume thresholds and price changes across daily and 10-day windows.
