Dogecoin (DOGE) and Ethereum (ETH) steady as institutional activity increase

November 25, 2023 04:32 AM PST | By Invezz
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The original dog-themed crypto, Dogecoin, witnessed amplified interest from institutional and dip-pocketed investors. DOGE’s massive uptick in transactions surpassing $100K in November confirms growing optimism, which has re-awaken dormant whales.

Whales scoop DOGE in November

IntoTheBlock stats shows DOGE transactions worth over $100K soared significantly in November. Dogecoin price remained elevated in that timeframe, indicating surged optimism.

Source – IntoTheBlock

The rising activity amidst bullish rides signals further gains for the cryptocurrency.

Dogecoin price

DOGE traded with a bullish bias at $0.0778 during this publication, following a 0.18% 24-hour uptick. It maintained uptrends over the past 30 days, gaining nearly 20% on its monthly chart.

Dogecoin’s current outlook highlights potential rallies for the meme coin. Interest from large-scale investors indicates confidence about DOGE’s expected surges.

Whales accumulate Ethereum

Also, dip-wallet investors are bullish on Ether. Whales have accumulated that altcoin consistently. Santiment confirms that ETH’s 200 top addresses have acquired tokens worth $132.1B (around 62.76 coins at current prices) since 21 November 2022.

Source – Santiment

Also, Glassnode data indicates that large wallets have scooped ETH steadily within the last nine months. The accumulation spree will likely bolster the token’s potential uptrend as it magnifies buying momentum.

Source – Glassnode

ETH Price

Ethereum traded with an upside outlook since it overcame the $2K psychological resistance on 9 November. The alt changed hands at $2,071.23 after slight 24-hour retracements. Ether prices jumped over 7% within the previous week.

ETH encounters a minimal barrier between $2,141 & $2,505 while it enjoys robust support at $1,899 – $2,052. Continued interest from whale investors might propel the token to new 2023 heights.

The post Dogecoin (DOGE) and Ethereum (ETH) steady as institutional activity increase appeared first on Invezz


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