Ancient Dogecoin Whales Resurface and Move Billions of DOGE
Four long-dormant Dogecoin (DOGE) whales have suddenly come alive in 2023, making significant movements in the popular meme coin. These whales, who had been inactive for over nine years, have collectively moved over 6.8 million DOGE, equivalent to $557,157 at the time of the transactions. The data was sourced from the Whale Alert account on Twitter and the Dogecoin Blockchain.
Key Points:
– On February 5, an ancient whale known as “DGqsy…HRkx9” moved 2,043,137 DOGE (worth $186,364), after being inactive for 9.1 years.
– On April 4, another whale named “DBdFd…KsoA5” transferred 1,215,614 DOGE (worth $116,460), after 9.3 years of inactivity.
– On May 4, the whale “DRRnY…8ZueN” moved 1,556,994 DOGE (worth $123,155), also after a dormant period of 9.3 years.
– The most recent movement occurred on June 27, when the whale “DBw7A…Ymasm” transferred 2,002,447 DOGE (worth $131,178) after being inactive for 9.5 years.
– Interestingly, all the whale movements took place on days when DOGE experienced negative price performance, suggesting a potential impact on the coin’s value.
Analysis of Dogecoin Prices:
– The recent awakening of these ancient whales coincided with days of negative price performance for DOGE.
– At the time of writing, DOGE is trading at $0.07407, with a 0.88% loss in the last 24 hours.
– Dogecoin holds the 7th position in terms of market capitalization, with $10.37 billion, and has gained 3% in the last 30 days.
Hot Take
The sudden activity of these long-dormant Dogecoin whales has created buzz in the crypto community. The fact that their movements coincided with negative price performance raises questions about the impact of large transactions on the coin’s value. As investors and enthusiasts, it is important to stay informed about such developments and consider the potential risks and rewards of investing in cryptocurrencies. Remember, investing is speculative, and your capital is always at risk.
By
By
By
By
