Dogecoin Takes Center Stage with Massive Whale Transaction

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Dogecoin, considered the number one meme coin by volume, became the center of rumors after a massive amount of DOGE was sent to a CEX on February 15th. According to data revealed by Whale Alert, which tracks blockchain whales, 400 million DOGE worth $34.37 million were moved during this period. Despite this transfer, DOGE’s price approached the $0.09 level due to the general market uptrend, creating significant speculation among crypto market traders and investors.

DOGE Whale Transactions

Meanwhile, derivative data specific to DOGE showed a decline today, reflecting the optimism formed in the market for the token alongside the recent price increase.

According to data provided by Whale Alert, 400 million DOGE were transferred to a CEX exchange by a whale. It was later revealed that the whale transaction resulted in the 400 million DOGE being sent to the Robinhood exchange.

Looking at past data, it seems that this is not the first transaction carried out by the whale. It was discovered that the same whale had performed a similar transaction during a previous market upswing.

This situation has attracted the attention of traders and investors in the cryptocurrency market, leading to various interpretations about the current process the token is undergoing.

Meanwhile, according to data from Coinglass, DOGE’s open interest saw a significant increase of 12.67%, reaching $569.11 million. This reflects a bullish outlook for DOGE, in line with the market rise seen today, as of the time of writing.

Considering the indicators presented by the open interest, the significant level of liquidity entering the market seems to reflect a bullish sentiment for DOGE.

What is the Price of DOGE Now?

According to data from 21milyon.com, Dogecoin’s price has experienced a significant increase of 3.29% in the last 24 hours, trading at $0.086 at the time of writing. Notably, the meme coin approached the $0.09 mark earlier in the day, reaching a high of $0.08791, fueling speculation that it could soon see $0.1 again in the market.

DOGE’s trading volume in the last 24 hours has shown an increase of over 90%, reaching $783 million. Additionally, the overall volume increased by 4%, surpassing the $12 billion mark.

Investors’ expectations are rising for a potential price increase to $0.1, based on the open interest data emerging in the coming days, which is a topic of discussion in crypto circles.