On-chain data shows the Dogecoin whales have gone on a notable selling spree recently, potentially explaining the decline DOGE has seen since its $0.307 high.
Dogecoin Whales Have Reduced Holdings By 680 Million Tokens
In a new post on X, analyst Ali Martinez has discussed about the latest trend in the Supply Distribution of the Dogecoin whales. The “Supply Distribution” here refers to an indicator from on-chain analytics firm Santiment that tells us about the total amount of the DOGE supply that a given wallet group is holding right now.
Investors or addresses are divided into these cohorts based on the number of coins that they are currently carrying. For example, a holder with 5 DOGE is put into the 1 to 10 tokens bracket.
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