Dogecoin (DOGE) Captivates the Market with a 21% Surge, Fueled by Whale Activity and Community Enthusiasm

Dogecoin (DOGE), the beloved meme-inspired cryptocurrency, has once again captured the spotlight with a remarkable 21% surge

Dogecoin (CRYPTO: DOGE) price surged 21% over the past week amid high-value transactions from cryptocurrency whales, according to data from Benzinga Pro.

What Happened: A Benzinga Pro analysis of on-chain data showed several large transactions, valued at over $10 million, took place over the last seven days.

The largest transaction, valued at $183.3 million, occurred on March 10 and involved the movement of 1.3 billion DOGE from an unknown wallet to another.

Cryptocurrency whales, defined as wallets holding a large amount of a particular digital asset, are known to influence the price of the asset they hold.

The activity of cryptocurrency whales is closely monitored by analysts and traders, who believe these large transactions can provide insight into the future price movement of the asset.

See More: Best Cryptocurrency Scanners

DOGE Price Action: Dogecoin price surged 5.36% over the past 24 hours and was trading at $0.14 at press time.

Over the last seven days, DOGE price surged 21.06% and price declined 86.3% year-to-date.

According to Benzinga Pro data, DOGE price reached a 52-week high of $0.24 on April 20, 2022, and a 52-week low of $0.06 on Dec. 29, 2022.