- DOGE transactions exceeding $100,000 climbed significantly in November, when compared to last month.
- The rising interest in DOGE is likely from institutional investors and whales, priming Dogecoin for a price recovery.
- DOGE could erase its weekly decline and make a comeback to the $0.087 local top.
The largest Shiba-Inu-themed meme coin in the crypto ecosystem has observed a spike in large volume transactions exceeding $100,000. Institutions and large wallet investors have likely fueled demand for DOGE throughout November.
Also read: Bitcoin price might hit $40,000 target if Tether whales support BTC gains
DOGE large volume transactions see notable spike in November
Based on data from crypto intelligence tracker IntoTheBlock, there is a notable surge in DOGE transactions, exceeding $100,000 in November. DOGE price rallied alongside the increase in large volume transactions in DOGE. In DOGE’s uptrend, the rising activity can be considered a sign of further gains in DOGE.
DOGE large volume transactions and price
Large volume transactions in November, exceeded those seen in October, as presented in the Santiment chart below.
 [13.00.01, 25 Nov, 2023]-638364956956118648.png)
Whale transactions $100,000 or higher in DOGE
Whales scoop of DOGE tokens
Since the beginning of October, whales in three segments, holders of 1 million to 1 billion DOGE tokens, consistently added to their holdings throughout October and November 2023. The consistent accumulation and DOGE’s price rise, fuel a bullish thesis for the meme coin’s recovery.
 [12.51.33, 25 Nov, 2023]-638364956304893813.png)
DOGE whale accumulation and price
DOGE price is $0.0787 at the time of writing. The meme coin noted a correction over the past week, price declined nearly 9%. A recovery in DOGE could erase recent losses and push the meme coin towards its bullish target of $0.087, the local top seen on November 17.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Pi Network rally halts under $0.80 as traders speculate about upcoming ecosystem announcement
Pi Network’s recent price action sends multiple buy signals, but resistance under $0.80 appears to be capping the uptrend. The Pi Network team teases a major announcement on May 14, fueling speculation and trader interest on the coin.
Bitcoin Weekly Forecast: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin price stabilizes around $103,000 on Friday after rallying nearly 10% this week. Risk-on sentiment prevails as Trump announced a trade deal with the UK and ahead of the meeting with China this weekend.
Dogecoin price jump above $0.20 triggers $13 million in liquidations
Dogecoin price edges higher after stepping above $0.20 and climbing to trade around $0.21 at the time of writing on Friday. The leading meme coin's uptrend mirrors a broad-based bullish wave in the market, triggered by the trade agreement between the US and the UK on Thursday.
XRP price could hit $3 on $50M SEC settlement
Ripple and the SEC strike a $50 million settlement agreement pending judicial approval. A joint motion in the US District Court aims to lift Ripple’s injunction and release $125M in escrowed penalties.
Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin (BTC) price is stabilizing around $103,000 at the time of writing on Friday after rallying nearly 10% this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.