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DOGE Surges 10% as Whale Holds 1.47B Coins Worth $123.1M Since January 1st

As the cryptocurrency market continues to fluctuate, Dogecoin, one of the most popular altcoins, has shown some mild decoupling signs this weekend. According to data by Santiment, Dogecoin has seen a significant increase of 9% in the past 24 hours, while most other cryptocurrencies remain flat. This news comes as a relief for many Dogecoin investors who have been eagerly waiting for the coin to break out of its recent slump.

The data by Santiment also reveals that addresses holding 10M+ $DOGE have accumulated 1.47 billion in coins since January 1st, 2023, which is currently worth $123.1 million. This signals a significant increase in demand for Dogecoin, as large investors continue to accumulate the coin. However, it is important to note that this data does not necessarily mean that the price of the coin will continue to rise in the long term.

Despite the recent increase in price and demand, there are still some concerns regarding the long-term viability of Dogecoin. Many investors see the coin as a speculative investment with limited real-world use cases, and there are fears that the recent surge in price could be due to market manipulation or hype. Additionally, the lack of a clear roadmap or development plan for Dogecoin has left some investors skeptical about its future prospects.

Regardless of these concerns, the recent increase in price and demand for Dogecoin is good news for its community of investors and supporters. As the cryptocurrency market continues to evolve, it will be interesting to see how Dogecoin and other altcoins perform in the long term.

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