The cryptocurrency market that experienced a drastic fall following the FTX crisis has resulted in many big whales investing large amounts of crypto at rock bottom prices.
As proof, the fourth largest BNB whale "Sabo" has bought 53 million famous memecoin Dogecoin (DOGE) worth $4.05 million on November 21 with a holding of $5.79 million in the wallet.
Meanwhile, the total value of the wallet exceeds $55 million when Binance-peg Bitcoin (BTCB) is the largest holder with a value of $24.89 million and Binance-peg Ethereum token is worth $24 million.
It is understood that DOGE always remains in the top 10 tokens purchased by the 100 largest BSC whales in the past 48 hours while other whales are reported to have bought the memecoin in the past 24 hours.
Even though DOGE and other cryptos are facing price declines due to the FTX issue, the memecoin remains strong against Bitcoin (BTC) and Ethereum (ETH), where the price is now rebounding from the $0.074 support level after plunging 7% in the past 24 hours.
In addition, the ongoing recession of the crypto market will never cause concern for DOGE investors as its trading volume has also jumped by 80%.
On the opposite side, billionaire Elon Musk who intends to integrate DOGE into the social media platform Twitter has seen its price climb to $0.15 in a week, but plunged back to $0.072 due to the FTX crisis.
Even so, DOGE investors still believe that the price will break through $1 if Musk moves quickly to bring the memecoin to Twitter.
