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, the king of meme coins, Dogecoin, its price is the next big thing Consolidating for the move, it managed to bounce back as one of the most actively purchased assets by BSC whales.
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.
Also, data from on-chain analytics firm IntoTheBlock shows DOGE whales in large transactions. It also shows that it has been on alert for the past 24 hours, up 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 has announced the listing of a new Dogecoin trading pair, DOGE/USDC, on spot trading markets. 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.
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