Dogecoin Whales earned 700 million Dogecoin in 72 hours

While meme coins are all the rage right now, the OG Dogecoin has been relatively quiet. DOGE's price action was lower at $0.158 as it was down about 4% last week.

Despite this, whales have bought more than 700 million doji in the last 72 hours alone. This stock is worth around $112 million at the current price of $0.16.

DOGE collects Wales

Dogecoin's recent performance has been mixed. Although it gained more than 17% monthly, it fell last week and is down 0.5% in the last 24 hours.

Whale buyers took advantage of this volatility, with holdings rising sharply in the 100 million to 1 billion range since May 29, coinciding with a reversal in the bearish trend. With more than $112 million amassed by whales, the current recovery trend is something to watch out for, noted crypto analyst Ali Martinez said in a recent update.

The accumulation trend was confirmed by Singapore-based crypto-trading firm QCP Capital's observations, as traders turned their attention to legacy meme coins.

In addition to Dogecoin, tokens such as Shiba Inu (SHIBA) and Pepe (PEPE) received significant attention, showing double-digit increases between 10% and 20%. These signals are currently among the top 10 in open interest, indicating high trading activity and investor interest in the MemCoin sector.

SHIB and PEPE chart demonstrations

In the past two weeks, approximately $103 million worth of 4 trillion SHIB tokens have been transferred to crypto exchanges. This activity suggests an increase in trading activity and may indicate a trend of investors looking to take advantage of SHIB's recent price movements.

This Shiba Inu layer-2 scale solution, Shibarium, has reached milestones since its launch last year in August, producing more than five million blocks. The network has handled more than 417 million transactions, with more than 1.8 million wallet addresses.

Meanwhile, PEPE has been on a tear, gaining nearly 130% in the past month. One whale made nearly $5 million in profits from PEPE tokens in just one month, earning a 52% return on its initial investment as the token's price dropped more than 17% from its all-time high. This whale deposited all 660.7 billion PEPE tokens worth $9.52 million into the Binance Wallet.