792,000,000 DOGE in Minutes – What's Happening?

Cover image via U.Today

Recent data from a prominent blockchain tracker reveals significant Dogecoin movement by anonymous whales. Over the past two hours, a massive transfer of 792 million DOGE (approximately $157,580,591 at the time of the transaction) occurred between unknown wallets, resembling an over-the-counter trade. This was reported by Whale Alert, who monitor large cryptocurrency transactions.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 792,000,000 #DOGE (157,580,591 USD) transferred from unknown wallet to unknown wallet

Many interpret this large transfer as a bullish signal for Dogecoin.

Furthermore, cryptocurrency analyst Ali Martinez highlighted data from Santiment showing that whales (wallets holding between 10,000 and 100,000 DOGE) accumulated 150 million DOGE over the past three days (March 4-6), likely taking advantage of a price dip. These wallets now collectively hold 24.48 billion DOGE.

Dogecoin experienced a 12.83% drop in the past 24 hours, reaching a low of $0.19, before recovering to $0.20157, a 5.39% increase.

Cardano founder Charles Hoskinson proposed a Dogecoin upgrade to Elon Musk.

On March 4th, Charles Hoskinson tweeted a proposal to Elon Musk to upgrade Dogecoin, suggesting it become the standard currency of X. He proposed using a modified Bitcoin roadmap, incorporating features like state channels for inexpensive tipping, full smart contract support, and quantum resistance. The upgrade would also aim to integrate Dogecoin with Musk's Grok AI on X, potentially utilizing a new proof-of-work system.

Hey @elonmusk, you want to fix up doge and make it the standard currency of X? I have the old Bitcoin 2 roadmap I wrote up years ago.

Musk, currently head of the U.S. Department of Government Efficiency (D.O.G.E.), hasn't responded. Hoskinson confirmed he does not personally hold any Dogecoin. Read the original article on U.Today.