The world’s largest cryptocurrency, Bitcoin has been moving between bears and bulls since the start of 2023. The same is followed by Ethereum and other altcoins. Though the year 2022 has not been in favor of the crypto market, it looks like the market is trying to hold up well since the start of 2023. Among the currencies that are now showing some strength is Dogecoin.
Dogecoin, which has been submerged in a bearish atmosphere in the last two years, is now witnessing some positive changes. As per WhaleStats, a crypto analytic platform, Dogecoin is one of the top 10 tokens that Binance Smart Chain (BSC) whales have racked up in the last 24hrs. These top 10 tokens also include XRP, Filecoin (FIL), and Terra (LUNA)
This has fueled Dogecoin’s trading volume which has surged more than 300% in just a span of one day along with its market cap which has managed to hit $10.3 billion with an increase of 8%.
At the time of publication, Dogecoin has gained 1.31% over the last 24hrs and is now trading at $0.075.
Dogecoin, One Of The Most Traded Crypto
Dogecoin whales were not this active back in 2022, but it’s been just a month that the BSC whales are leaning towards the meme coin. The data also reveal that in the first week of December 2022, the top 100 BSC whales are holding nearly 97 million Dogecoins. However, in the second week, these whales accumulated another 80 million DOGE.
Interestingly, by December 25, 2022, Dogecoin turned out to be one of the most traded cryptocurrencies by the top 100 BNB holders.
However, it’s not the same when it comes to Dogecoin’s daily trading volume as the Santiment report claims that in the last two years, Dogecoin’s trading volume has been on a sliding pattern. Currently, Dogecoin’s trading volume accounts for $402 million in the last 24hrs.
On the other hand, if Dogecoin manages to maintain its bullish pattern, the meme king can easily move past its immediate resistance of $0.080.