Dogecoin whales curious despite DOGE’s exit from top 10

Once a prominent fixture in the top 10 cryptocurrencies by market capitalization, Dogecoin, the OG meme coin, has slipped from that esteemed ranking. Yesterday, a notable

Just within the last 24 hours, several substantial Dogecoin transactions have surfaced. Including the transfer of 100 million DOGE valued at $8.27 million and another of 150 million DOGE worth $12.4 million, both migrating from Robinhood to mysterious destinations. These transactions contribute to a larger pattern of Dogecoin activity observed recently.

It’s worth noting that these sizable transfers aren’t isolated incidents. On February 10th, a transfer of 150 million DOGE, equivalent to $12.22 million, flowed from an unidentified wallet into Robinhood’s coffers. Additionally, on February 9th, a notable 63.7 million DOGE, valued at $5.2 million, journeyed from Bittrex to an unknown wallet.

Earlier in the month, Robinhood seemed to be a focal point for Dogecoin activity, with transfers of 100 million DOGE ($7.83 million) and 103.3 million DOGE ($7.91 million) arriving from undisclosed sources.

Turning our attention to the current state of the Dogecoin market, as per real-time updates, the price stands at $0.08176, experiencing a slight decline of 0.86% over the past day. The market capitalization sits at $11.7 billion, with a 24-hour trading volume of $397.53 million. Notably, the circulating supply of Dogecoin amounts to 143.07 billion DOGE.

In a broader landscape, the global market cap is reported to be $1.86 trillion, registering a modest 0.46% decrease over the last day. The total crypto market volume for the past 24 hours is $73.95 billion, reflecting a 9.52% decrease. Within this sphere, the volume of decentralized finance (DeFi) stands at $5.62 billion, constituting 7.59% of the total crypto market volume. 

Stablecoins, on the other hand, account for $67.59 billion in volume, representing a significant 91.41% share of the total crypto market 24-hour volume. As for Bitcoin, the dominant cryptocurrency, its market dominance currently stands at 52.32%, showing a slight decrease of 0.15% over the day.

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