The data on the series shows that the shark and the Dogoin whale is increasing in the number recently, a sign that can be up to the DOGE price.
Dogecoin whale and whales have expanded despite the low prices
According to data from the Analysis Company on the series SantimDogecoin recently witnessed a rise in two important indicators. The first measure of the importance here is the “supply distribution” of the DOGE governor that carries more than a million symbols.
The distribution of supply tells us, among other things, the number of addresses that belong to a certain currency. For example, the 1 to 10 metal currencies index measures the amount of owners who have at least 1 and at least ten in their balance.
The 1 million+ Doug Group, which is the focus group here, includes two groups of main investors: sharks and whales. At the current exchange rate, the range of the range turns to about 166,600 dollars. This is clear that this is a very important amount, which is why the entities belonging to sharks and whales are important on the network.
Now, here is the graph that shows the trend in distributing Dogoin supplies for the 1 million coins in the past few months:
As shown in the graph above, note the distribution of Dogecoin for sharks and whales, when the declining procedure began at the MEMECOIN price for the first time in January.
Since the beginning of February, the index reflected its direction and followed an upward path. Interestingly, this increase in the wallet came despite the fact that the decrease in the original increased only during this period.
This trend may mean that although the great investors who were sold when the clouds began for the first time, they have since turned their attention to the accumulation of decline instead.
In total, the shark and whale governor increased by 62 (about 1.24 %) since the beginning of February and now not far from the peak that they witnessed in January.
The increase in large portfolios is not the only positive sign that Dukwin has seen; There was also a bullish development in another indicator connected to the graph. The scale concerned is the active addresses, which follow the total number of DOGE addresses participating in a type of transaction activity on Blockchain every day.
From the graph, it is clear that the active headlines of Dogcoin have jumped to the highest level in 4 months recently, indicating a large amount of users who perform transfers on the network.
While the increase in the shark and whale governor has occurred for a while now, the signal in the active headlines is more modern. The current low prices seem to have finally caught the attention of the masses, who are now active in achieving their movements.
Dog’s price
At the time of this report, Dogecoin is trading about $ 0.166, an increase of about 4 % in the past seven days.
