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A major crypto analytics firm has discovered that the meme token Dogecoin (DOGE) experienced the most whale trades ever on January 31st of this year.
Data from Crypto Analysis Platforms Santimento shows that there were 523 DOGE transactions of $100,000 or more at the end of January. This is the highest price since November 27th.
Daily active address activity for dog-themed assets also jumped to 86,427, the biggest increase in two days since November 2nd and 3rd.
Dogecoin broke out in major whale trading today, the highest amount of the year following a spike in address activity. It crossed $0.095 for the first time since.
As the price of Dogecoin’s main rival Shiba Inu (SHIB) explodes, whale trading surges. From his $0.000008 trade on Jan. 1, the token is now worth $0.000012, marking a 50% increase.
Dogecoin has rallied amid reports that Twitter owner Elon Musk is working to bring cryptocurrency payments to the social media platform. A staunch supporter of DOGE reiterates his year-old offer that he’ll eat Happy Meal on TV if McDonald’s starts accepting his favorite cryptocurrency as payment.
Dogecoin started the year at $0.0701 and climbed to a 2023 high of $0.0978 on January 31, up 39.5%. The 9th largest crypto asset by market capitalization is trading at $0.0950 at the time of writing.
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