DOGE Whale Buys Fail to Spark Price Rise Amid Low Institutional Demand

Dogecoin's price has been affected by recent large address purchases, but whether this is a sign of a price rise or not depends on several factors. According to blockchain analysis, over 240 million DOGE were bought between September 9 and 14, while the price decreased from $0.091 to $0.081.

The daily range of Dogecoin's price has been from $0.0846 to $0.0911, with a weekly increase of 1.4 percent and a 30-day gain of 0.4 percent. The market capitalization stands at around $13.2 billion, placing Dogecoin in 12th place.

It's worth noting that the funds are not showing significant institutional demand for Dogecoin, with only $248,510 flowing into Grayscale's fund on September 16, compared to $20 million in purchases by large addresses.