The most popular meme cryptocurrency, Dogecoin (DOGE), continues to see interesting developments, not only on the price chart but also behind the scenes in the cryptocurrency scene.

According to IntoTheBlock, the last 24 hours have been marked by a surge in activity involving the token from major players, or as they are commonly called, whales.

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In particular, the number of transactions with a minimum volume of $100,000 increased to 1,950 such transactions and a total volume of $2.65 billion. In physical terms, the day was marked by the movement of 21.59 billion DOGE in these large transactions.

In comparison, the day before, the volume of large Dogecoin transactions was over $900 million lower and the number of DOGE coins moved was 6.32 billion lower.

Buy whales?

Upon closer inspection, one can see that these transfers were primarily purchase transactions.

Thus, the inflow of Dogecoin into wallets with a share of at least 0.1% has almost doubled over the past day, reaching 445.15 million DOGE. At the same time, outflows were lower than the previous day, but still amounted to 386.51 million DOGE. As a result, the net inflow into the wallets of large Dogecoin holders was almost 250 million DOGE.

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We can therefore conclude that whales were indeed active in the popular meme cryptocurrency during the reporting period. Furthermore, their actions within this activity were bullish in nature.