Dogecoin receives some attention from BSC whales but still shows poor market performance historically
One of the first competitors of Shiba Inu, industry classic Dogecoin has made a loud comeback to the top eight most popular coins among whales on the BNB chain, according to WhaleStats.
The possessions of Dogecoin whales
The service tracks the portfolios of major BNB addresses and their holdings. According to the most recent data, Dogecoin now accounts for over 2% of all holdings on whale-level addresses.
Dogecoin holdings are valued at approximately $200 million. Previously, coins entered the top of the most traded coins on the same chain among the same wallets. But according to historical data, no major trading volume has appeared on any exchange, which indicates that DOGE appeared at the top due to the absence of significant buying power on other positions.
DOGE market performance
According to data from TradingView, Dogecoin’s performance was far from profitable for any holder or investor. In the past month, the memecoin approved by Elon Musk has lost around 40% of its value.
Globally, Doge has been moving in the long-term rangebound with sudden pumps during the year. The last “pump” of the coin took place in October when the coin reached the two-month high of $0.30.
In addition to a poor performance of the market in terms of price, the asset is also constantly losing its trading volume, which can also be linked to the coming Christmas holidays when the financial markets lose their trading volume in general.
