During the last 24 hours, Dogecoin (DOGE) has seen a surge in on-chain activity, suggesting bullish investor behavior. Like the Large Holders Netflow metric of In the block shows that there has been a whopping 275.54% increase in the amount of DOGE entering large holders’ wallets.
In just one day, the total increased from 624.23 million DOGE to 1.72 billion DOGE, showing that major market participants remain optimistic about the future of cryptocurrency.
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Just to give you some context, large holders are considered those market participants who control more than 0.1% of the total DOGE supply. We often see spikes in net inflows during price pauses or drops.
This happens because large investors tend to accumulate assets when prices are stagnant, which is generally considered a good sign for the asset, meaning large investors are preparing for a potential increase in its price.
It’s all in, not out
There is further evidence of this growing investor confidence in the recent net accumulation of Dogecoin.
Thus, in total, 3.12 billion DOGE were added to the portfolios of the main holders, an increase of 33.9% compared to the previous day. Although there have been some outflows, with 1.7 million DOGE flowing out of these wallets, the overall trend is still positive, and more Dogecoin is being added to whale holdings than is being sold.
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This accumulation pattern fits with the broader market sentiment of optimism. Whales tend to be more cautious in their movements, usually only acting when they anticipate another price rise. The increase in net inflows, along with the steady accumulation of large holders, shows that many whales are preparing for future upward momentum to DOGE.