The meme coin Dogecoin (DOGE), which has gained popularity with the contributions of Tesla CEO Elon Musk, continues to struggle in the bear market, while Binance Smart Cahain (BSC) is also buying from whales, according to data provided by whale watching platform WhaleStats.
BSC whales buy Dogecoin and these altcoins
According to the official Twitter account of on-chain whale watching platform WhaleStats, memes are the king of coins Dogecoin has managed to bounce back as one of the most actively bought assets by BSC whales as its price consolidates for the next big move.
MBOX is back in the top 10 most bought tokens among the top 100 BSC whales in the last 24 hours. The list also includes DOGE, FIL, CAKE, FAME and DOME.
JUST IN: $MBOX @MOBOX_Official is back on top 10 purchased tokens among 100 biggest #BSC whales in the last 24hrs 🐳
We've also got $DOGE, $FIL, $Cake, $FAME & $DOME on the list 👀
Whale leaderboard: https://t.co/0SYnjw0xQs#MBOX #whalestats #babywhale #BBW pic.twitter.com/cSZsbSuBJO
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) May 23, 2022
Also on-chain analytics firm IntoTheBlock data shows that DOGE whales are involved in large transactions. It also shows that it has been on alert in the last 24 hours, with an increase of 24%. Whale trading is an important indicator followed by investors. That’s because large transaction spikes are often associated with increased activity from institutional players or trading whales. IntoTheBlock considers transactions over $100,000 in this category. Again, data provided by IntoTheBlock shows that Dogecoin (DOGE)’s profitability is currently at 53% after falling below 50% earlier this month.
Meanwhile, a new real-world usability area has been added, which is also important for Dogecoin adoption. Recently, Swiss luxury watch manufacturer TAG Heuer announced that it accepts cryptocurrencies ‘including Dogecoin’ as payment through a partnership with BitPay.
New DOGE trading pair listed on OKX
Cryptocurrency exchange OKX is launching a new Dogecoin in spot trading markets, as we have also reported on cryptokoin.com announced that the trade parity DOGE/USDC is listed. According to the statement, spot trade for DOGE/USDC is expected to start on May 23, 2022.
At the time of writing, Dogecoin was trading at $0.08771, up 3.28%, according to CoinMarketCap data. Dogecoin suffered significant losses in early May, falling as low as $0.065. After rebounding, DOGE encountered a key support at the key level of $0.082 on May 21, rising from the lows and reaching as high as $0.088 today. If he maintains this move, he will have succeeded in marking the third consecutive day in green.
