November has proven eventful in the cryptocurrency world, with recent comments from Donald J. Trump stirring the memecoin pot.
Recent comments by former US President Donald J. Trump have sparked renewed interest in Dogecoin ($DOGE) and other meme assets, evident in their substantial gains today.
One top $Pnut holder made headlines after selling 4.28 million $Pnut for 7,850 SOL in their first sale since establishing a position on November 3. With a remaining balance of 27.05 million $Pnut, their single-coin income now stands at an impressive $25.1 million.
Meanwhile, Dogecoin ($DOGE) is exhibiting bullish on-chain activity, with 96% of holders in profit despite a slight dip in price over the last 24 hours. Last week's high volume of transactions—the most since February—hints at a potential resurgence in retail interest, which could further boost the memecoin momentum.
Data from the past month reveals a significant increase in small wallets (less than 100,000 $DOGE) with 74,885 new wallets added. However, larger “shark” and “whale” wallets saw a net decrease of 350 during the same period. Notably, 108 large wallets have been re-entering in recent days, contributing to $DOGE's surge above $0.40 for the first time in over three and a half years.
This enthusiasm among small-time investors, coupled with selective buying from key stakeholders, may signal the beginning of a sustained rally for $DOGE. The coming days will be crucial as market participants closely observe whether both retail and high-net-worth investors continue to favor speculative assets like $DOGE, potentially driving the memecoin craze to even greater heights.
As always, this is not trading or investment advice. Please carry out your own research before buying any cryptocurrency or investing in any services.
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