Dogecoin increased in value by more than 12% in the historically bearish month of September but has not quite been able to replicate its excellent form this October. The DOGE price has been under significant bearish pressure in the past few days, reflecting the sluggish climate of the crypto market over the past week. However, the latest on-chain revelation has pointed out that the price of Dogecoin might not be down for too long. Large investors of the meme coin have become increasingly active in the market — and here’s how it might impact price. Are Dogecoin Whales Positioning Themselves For A Bullish Breakout? Prominent crypto pundit Ali Martinez took to the X platform to share an interesting on-chain insight into the activity of whales and other large investors in recent days. The relevant indicator here is the IntoTheBlock number of large transactions metric, which calculates the number of token transfers worth over $100,000. Related Reading: Ethereum ICO Participant Offloads 6,000 ETH As Bearish Sentiment Intensifies The cohort of investors involved in this data point is the whales and i ..
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