After the rush for DOGE by some of the top whales in the cryptocurrency industry the previous week, Dogecoin is now in the news again as the most sought-after token by the most prominent Binance Smart Chain (BSC) whales.
The Dogecoin community wants their favorite coin to become the go-to digital currency. Seeing how the whales continually look to add the Dogecoin to their growing portfolio is music to their ears. Having seen the Dogecoin rise and fall in value just like the other cryptocurrencies, even the less optimistic fans in the Dogecoin community will heave a sigh of relief seeing how the DOGE is staking its claim among top-performing coins in the industry.
Nonetheless, whales from other blockchain networks more often use dip periods to purchase as many tokens as they can accumulate, leveraging on discount prices to make a massive purchase. Their growing portfolio indicates the immense influence they wielded in driving up the demand and supply of digital currencies.
According to the statement released by WhaleStats, a crypto data firm, on its official Twitter handle, the top 1,000 whales in the Binance Smart Chain have made the meme cryptocurrency token DOGE, its preferred coin sitting atop the chart of their assets.
Not surprisingly, the speculative nature of the meme coin has so far played a constant role in how whales view the token, and their drive to buy more of it keeps rising by the day, even though the meme cryptocurrency form just an insignificant part of their overall portfolio.
However, the glowing news about being sought after by the BSC whales failed to see the DOGE at the first spot of the whale’s cryptocurrency portfolio. The whales presently hold a total of 324,985 million DOGE valued at $46,994,460, putting the DOGE at an insignificant 1.97% of the top whale’s cryptocurrency portfolio.
The most significant token by USD valuation is BTCB, which takes a modest 15.83% of the total portfolio, approximately $377,771,715 in fiat currency. Ethereum occupies the second spot, with 13.17% of its investment portfolio valued at $326,140,788 in fiat currency.
In the early days of the week, U.Today reported the action of a top-ranking BNB whale who occupied the 75th position in the WhaleStats crypto whale ranking, purchasing 8,999,983 DOGE worth $1,471,326.
Not many people have envisioned the acceptance of Dogecoin more than Elon Musk, who happens to be its most prominent supporter and promoter. His numerous tweets to draw the attention of corporations like the largest fast-food chain in the United States, McDonald’s, to start accepting DOGE as payment is quite commendable, even if nothing comes out of it.
So far, other fast-food chains like MrBeast have moved into partnership with the Doge community by accepting Dogecoin in exchange for their services.
In a move showing support for its founder, Tesla, the electric car maker, has begun using Dogecoin as payment for some of its merchandise. More such actions might come from other businesses.