BNB whales are after Dogecoin as it returns as one of most purchased digital assets and enters zone of “extreme fear”
According to data shared by WhaleStats, Dogecoin has returned to the list of coins that BSC whales are after. BSC—Binance Smart Chain—now known as BNB Chain, is compatible with Ethereum and provides the basis for numerous coins popular with investors.
In the meantime, the Dogecoin Fear and Greed Index has dropped into the “extreme fear” zone.
DOGE wanted by top BSC investors
WhaleStats has shared that Dogecoin wrapped on BNB Chain has again emerged on the top 10 list of the most purchased BSC-based tokens over the past 24 hours.
The leading meme cryptocurrency is on this list, along with BNB, ETH, AAVE, USDC and five other altcoins. DOGE-BSC holds eighth position there.
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) June 14, 2022
Wrapped coins are the ones that are used on a nonnative blockchain but are backed on a 1:1 basis with original coins. Recently, the head of Binance exchange, CZ, the creator of Binance Smart Chain, provided proof of assets for DOGE, XRP and other altcoins on BSC.
Now, every user can check the contents of these wallets to ensure that these tokens on Binance are fully backed.
At the time of this writing, BSC whales are holding a total of $11,944,257 worth of Dogecoin; that is the equivalent of 212,778,360 coins, which constitutes 1.08% of their comprised portfolio.
Other popular altcoins for BSC whales—ADA and XRP—comprise 1.46% and 1.32% of the whales’ portfolio.
Several hours earlier, Dogecoin was also on the top 10 list of coins by trading volume.
DOGE enters “extreme fear” zone
As per a recent tweet shared by the @DogecoinFear account on Twitter, the Fear and Greed Index for the original meme coin has dropped to 13, therefore entering the zone of extreme fear.
This can usually indicate that investors in DOGE are extremely worried. However, that is often interpreted as a good buying opportunity.
Dogecoin Fear and Greed Index is 13 — Extreme Fear pic.twitter.com/ePeKwyDEAP
— Doge Fear and Greed Index (@DogecoinFear) June 14, 2022
At the moment, Dogecoin is trading at roughly 92%, below the all-time high of $0.7376 this canine token reached in May 2021 after Elon Musk pumped it during his TV debut on Saturday Night Live.