Whale Movements Detected in Dogecoin Transactions

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Dogecoin, the most notable memecoin in the cryptocurrency world, seems to have entered the radar of whales again. Whales are moving large amounts of tokens. These whale transfers occurred amidst a price decline around the token, leading to broader sell-offs in the crypto market.

DOGE Whales on the Move

According to data provided by on-chain platforms, whale transactions involving the meme coin have caught the attention of investors. It was reported that more than 438 million DOGE changed hands the other day.

Moreover, market sentiments for the token seem to be strengthening following the recent whale movements. Consequently, there could be potential fluctuations in the coming days.

According to data provided by Whale Alert, known for tracking whale movements, two significant whale transactions occurred in the last 24 hours specifically for DOGE. As of the time of writing, a total of 438.28 million cryptocurrencies had been transferred.

According to the shared information, an unknown wallet, DF8jRK7rt6…fjcJHvjEGb, sent 71 million DOGE to the California-based famous CEX exchange Robinhood. The value of the coins transferred to Robinhood was $6.39 million at the time of writing.

In addition, an even larger transaction took place. In this transaction, the transfer of 367.06 million DOGE worth $33.62 million between two unknown wallets was observed. According to the data, the unknown wallet address DU8gPC5mh4…rk2jAguBr5 made this transfer to another wallet address DTSop4ycWk…3z7B4kW4T3.

Dogecoin Price Declines

As of the time of writing, Dogecoin’s price has experienced a minor decrease of 0.49% in the last 24 hours and is currently trading at $0.09256. The token’s total market value also saw a decline.

The total volume has decreased by 0.49% as of the time of writing and has fallen to $13.10 billion. For investors trading in the DOGE/TRY pair, it would be useful to note that the price of DOGE is 2.72 TL.

Moreover, the price has increased by 1.84% on a weekly basis, while it has risen by 15.15% on a monthly basis, pleasing investors. The monthly price increase also parallels the increase in the token’s 24-hour trading volume.

Dogecoin’s trading volume has increased by 9% in the last 24 hours and is currently at $527.14 million. Additionally, DOGE’s market chart continues to move gradually upwards, reflecting the positive expectations of cryptocurrency investors.