The crypto market is in the process of healing at the time, as it is spiking and recording new highs and sending sentiment signals for the investment community. The leading cryptocurrency, Bitcoin (BTC) has eventually surged and reached as much as US$24,000.
The surge of Bitcoin (BTC) has indeed triggered mutiple other memecoins and alternative coins to surge up, including the popular Dogecoin (DOGE). The crypto whales are more attracted to Dogecoin then ever, as their interest has increased insanely, which in return led to a huge surge in DOGE’s market dominance.
The Analytics firm Santiment has Recently revealed that its team has been heavily observing 3 main altcoins that become popular among crypto whales, after the price rally, which led by probable launch announcement of the Ethereum Merge upgrade.
Meanwhile, many forecasts and speculations were published on whether the memecoin DOGE will see a massive rise in term of value as the increasing interest for the whales indicates that Dogecoin has appealed its investment community prominence. By now, if whale keeps to control the market, it means that it is only a matter of time till the leading memecoin make its way back to the top digital currencies.
The crypto investors who spent more than $100K per transaction, are mainly holding Dogecoin tokens, and much more than 100 of these transactions are taking place on a day, according to a post from Santiment. The post did also spotted the light over the fact that Ethereum-based altcoins, Polygon, and decentralized crypto exchange Uniswap are also acquiring the top priority lists on the whales’ crypto wishlist.
The memcoin has recently been accepted as a payment method in many retail and online merchants. Despite this, the Dogecoin’s development and growth have been slow as an important cryptocurrency and has less real-world use cases than its competitors. The new integrating Dogecoin crypto payments is going to improve the value of crypto and will increase real-world uses number that the crypto has to offer.
It is inescapable that once the market fully recovers, Dogecoin will surge, but there will be many other alternative coins that will keep to pose massive threats to DOGE. However, the crypto can make up for the loses, but its increasingly growing momentum acceptance will absolutely aid its popularity.
By the time of writing this article, Dogecoin (DOGE) is trading at $0.064 in red.