Whale Transfers Orbiting DOGE
According to on-chain data from Whale Alert, two significant whale transfers involving Dogecoin (DOGE) occurred in the past 24 hours. These transfers collectively moved 438.28 million DOGE.
One transfer involved an unknown wallet sending 71 million DOGE to Robinhood, a California-based cryptocurrency exchange. The value of the coins transferred was $6.39 million at the time of writing. Another transfer involved 367.06 million DOGE, worth $33.62 million, being moved between two unknown wallets.
Dogecoin Price Dips
Currently, the price of Dogecoin has experienced a slight decrease of 0.28% in the past 24 hours and is trading at $0.09202. This decrease in price also resulted in a 0.27% drop in the token’s total market cap, which now stands at $13.10 billion.
However, despite this dip, Dogecoin has seen a weekly increase of 1.84% and a monthly surge of 15.15%. Additionally, the token’s trading volume has risen by 5.67% in the past 24 hours, reaching $521.14 million. Overall, the market chart for Dogecoin indicates a gradual upward trend, leading to bullish sentiments for the token.
Hot Take: Dogecoin Whales Shifts 438 Mln DOGE As Price Dips, What’s Next?
The recent whale transfers involving Dogecoin have caught the attention of crypto enthusiasts as they monitor the market sentiments surrounding the token. Despite a dip in price and market cap, there are positive indicators such as increasing trading volume and upward movement in the market chart that suggest potential for a surge in Dogecoin’s value. As the meme coin continues to gain traction, it will be interesting to see how these whale transactions and market trends shape the future of Dogecoin.
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