Dormant Dogecoin (DOGE) Whales in Motion: Santiment

On-chain analytics from Santiment revealed a significant uptick in dormant Dogecoin whale activity

The data reveals that over 121 new wallets are created each month, with each holding over 1 million DOGE

Despite this surge in high-value wallets, Dogecoin lags far behind major cryptos, rising only 8% compared to Bitcoin's 125% YTD increase

Additionally, Dogecoin futures contracts' open interest surged by 40%, suggesting an increased risk appetite among traders

In 2021, Dogecoin's search interest soared during a 10,000% price rally