Dogecoin whales also went on a rampage, with a 24-hour growth rate of 58.67% to $1.85 billion. Cardano also tagged along with the trend, with whale transactions soaring as high as 28.19% in 24 hours to register a volume of $7.23 billion.
Beyond the whale activity correlation, the three profiled assets do not have an active burn mechanism. This means that large transactions are one way to drive price growth across the board.
Cardano might also boost the current ADA whale boost with potential positive ecosystem sentiment that has trailed the community since the Chang hard fork upgrade. As of this writing, the ADA price has become $0.3576, with a relatively flat growth rate.
In all, Dogecoin might also chart its growth surge at a time when the meme coin is receiving a unique boost from investors. For now, the top meme coin is looking at a rebound from its current level at $0.1392 amid a 2.39% drop.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
