BNB whales are after Dogecoin as it returns as one of most purchased digital assets and enters zone of “extreme fear”
According to data shared by WhaleStats, Dogecoin has returned to the list of coins wanted by BSC whales. BSC—Binance Smart Chain—now known as BNB Chain, is compatible with Ethereum and provides the basis for many coins popular with investors.
In the meantime, the Dogecoin Fear and Greed Index has dropped into the “extreme fear” zone.
DOGE wanted by top BSC investors
WhaleStats shared that Dogecoin wrapped on BNB Chain once again appeared in the top 10 most purchased BSC-based tokens in the past 24 hours.
The leading meme cryptocurrency is on this list, along with BNB, ETH, AAVE, USDC and five other altcoins. DOGE-BSC holds eighth position there.
Wrapped coins are those that are used on a non-native blockchain but are backed on a 1:1 basis with original coins. Recently, Binance exchange manager CZ, the creator of Binance Smart Chain, provided proof of assets for DOGE, XRP, and other altcoins on BSC.
Now, every user can check the contents of these wallets to ensure that these tokens on Binance are fully backed.
As of this writing, BSC whales hold a total of $11,944,257 worth of Dogecoin; this is the equivalent of 212,778,360 coins, which constitutes 1.08% of their compound wallet.
Other popular altcoins for BSC whales—ADA and XRP—comprise 1.46% and 1.32% of the whales’ portfolio.
Several hours earlier, Dogecoin was also on the list of the top 10 coins by trading volume.
DOGE enters “extreme fear” zone
As per a recent tweet shared by the @DogecoinFear account on Twitter, the Fear and Greed Index for the original meme coin has dropped to 13, therefore entering the zone of extreme fear.
This can usually indicate that DOGE investors are extremely worried. However, this is often interpreted as a good buying opportunity.
At the moment, Dogecoin is trading at roughly 92%, below the all-time high of $0.7376 this canine token reached in May 2021 after Elon Musk pumped it during his TV debut on Saturday Night Live.
