Dogecoin whale activity hits 6-month high, boosting price and market cap.

Dogecoin has seen a significant rise in on-chain activity from whales holding at least 100 million DOGE, reaching a six-month peak. These large holders now control over 70% of the circulating supply, with their total holdings hitting an all-time high of 108.52 billion DOGE, valued at around $11.8 billion. This increased demand from whales, along with steady growth in U.S. spot DOGE ETFs, has helped Dogecoin's price surge over 16% in the past month, pushing its market cap to about $16.9 billion. Continued accumulation by whales could stabilize Dogecoin after a prolonged bear market, but if they start selling, the price may decline.