Dogecoin Whales Amass 276 Million – Is $0.01 Just the Beginning?

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Dogecoin, the renowned meme coin, has caught the attention of the global crypto market with substantial whale accumulations, reaching an impressive 276.21 million DOGE, equivalent to $26.4 million. Such huge amounts of Dogecoin accumulated from Robinhood have intrigued and excited the crypto community.

Whale Accumulated 276 Million DOGE 

In a recent tweet post, The blockchain tracking platform Whale Alert provided data revealing two substantial transactions responsible for accumulating the noteworthy 276.21 million DOGE amounting to $26.4 million from Robinhood. 

However, the first transaction, executed by the address DEPewG…gWMAtU, witnessed the accumulation of 172.89 million DOGE, valued at an impressive $16.59 million. 

In a parallel move, the second transaction, associated with the address DGG1Ght6LB…pcSXme8X5S, added 103.32 million DOGE, contributing $9.87 million to the accumulating pool. Such significant accumulations often influence market sentiment by reducing supply and potentially boosting prices. 

Meanwhile, these transactions hint at a bullish sentiment for Dogecoin, reflected in the meme coin’s recent price rally. This surge comes after a period of Dogecoin’s relatively subdued performance, offering a refreshing change in its market dynamics.

DOGE See 7.28% Surge

As of now, Dogecoin’s price has surged by an impressive 7.28% in the last 24 hours, reaching a current value of $0.09971. Notably, the meme coin’s market cap and 24-hour trading volume have also experienced substantial increases of 7.71% and 146.81%, respectively.

Insights from Coinglass further indicate a notable surge in DOGE’s open interest, marked by a 15.06% increase, coupled with a remarkable 191.73% rise in trading volume. These indicators not only suggest an influx of new funds but also point to heightened market activity.