Recent on-chain data suggest that Dogecoin (DOGE) has continued to dominate the meme coin space. Dogecoin whales are holding onto their momentum, according to statistics from IntoTheBlock (ITB), as the significant transaction volume has surpassed the $1.6 billion threshold with a 27.97% increase in the last day.
Dogecoin is seeing a noteworthy surge in several indicators, suggesting a strong decision to close the year on a more optimistic note. Dogecoin is now trading at $0.09322, up 1.3% in preparation for the removal of one more zero.
With their unrestricted surge to unprecedented heights, the whales working inside the ecosystem are providing a significant optimistic indication for the Dogecoin price forecast. Given that the value of the whale transaction volume increased from 10.19 billion DOGE on December 24 to over 17.39 billion at now, it is even more remarkable.
In addition, there has been a bullish surge in the Dogecoin network’s Daily Active Addresses. With around 137,120 active addresses as of right now, the Dogecoin protocol is growing at a pace of 37.21%. The resurgence of interest in DOGE as an asset class is demonstrated by these addresses.
Dogecoin advantage
Dogecoin certainly has fewer ecological benefits than its competitor meme currencies, but it is making the most of what it does have.
One factor that has not only helped Dogecoin retain its price outlook but is also expected to propel it on an upcoming major surge ahead of the new year is the whale acceptance of the cryptocurrency. The sway of celebrity endorsers like Elon Musk is another benefit.
Despite the fact that the billionaire owner of Tesla and the X app has stopped posting on Dogecoin recently, his influence is like that of a sleeping monster who, if roused, may propel it far beyond the growth that its competitors have so far documented.
