Bitcoin, the world’s largest cryptocurrency, has been between bearish and bullish since early 2023. So are Ethereum and other altcoins. 2022 was not favorable for the crypto market, but from the beginning of 2023 the market seems to be holding up well.
Dogecoin, which has been in a bearish mood for the past two years, is now witnessing some positive changes. Dogecoin is one of the top 10 tokens acquired by Binance Smart Chain (BSC) whales in the last 24 hours, according to crypto analytics platform WhaleStats. These top 10 tokens also include XRP, Filecoin (FIL), and Terra (LUNA).
This caused Dogecoin’s trading volume to surge by over 300% in just one day, and its market cap to grow by 8% to reach $10.3 billion.
At the time of issue, Dogecoin is currently trading at $0.075, up 1.31% over the past 24 hours.
Dogecoin, one of the most traded cryptos
Dogecoin whales weren’t as active in 2022, but BSC whales have been leaning towards meme coins for just over a month. The data also reveals that in the first week of December 2022, his BSC whales in the top 100 hold around 97 million Dogecoins. But in the second week, these whales accumulated another 80 million DOGE.
Interestingly, by December 25, 2022, Dogecoin turned out to be one of the most traded cryptocurrencies by the top 100 BNB holders.
However, when it comes to Dogecoin’s daily trading volume, it’s not the same as the Santiment report claims that Dogecoin’s trading volume has been in a sliding pattern for the past two years. Currently, Dogecoin’s trading volume in the last 24 hours is $402 million.
On the other hand, if Dogecoin can sustain its bullish pattern, Meme King can easily overcome the immediate resistance at $0.080.