How DOGE's Cult Status Keeps It Alive: The Retail Surge vs. the Whales' Worry A Downturn, Yet a FollowingDespite
DOGE's recent dip in value, with a 23% drop from its December peak, the meme coin still has something to wag its tail about. The new year hasn't been kind either, with a 12% decline so far. But here's the twist: retail investors are still barking up this digital dog's tree.
Retail Roars, Whales WatchWhile the big fish aren't biting, the little pups are flocking to DOGE. Over 413.8K new wallets have joined the pack in just two weeks, setting a record for this memecoin. The surge is especially noticeable among those holding between 0.001 and 1 coin. It seems DOGE's
cult status is attracting a new wave of believers.
Whale WoesBut as we look beyond the retail frenzy, there's a hint of concern. The whales, those with over 1,000 coins, aren't joining the party just yet. Their lack of interest could be seen as a red flag for the long-term prospects of this digital canine.
While DOGE may not be fetching headlines for its price performance lately, its loyal retail following and cult-like appeal keep it wagging its tail in the crypto world.
