Dogecoin, the cryptocurrency world’s most notable memecoin, has once again caught the attention of ‘whales’—large holders of crypto assets—who are actively transferring significant amounts of tokens. These whale transfers are occurring amidst a price decline in Dogecoin, leading to broader sell-offs in the crypto market.
According to data from on-chain platforms, these whale transactions have not gone unnoticed by investors. Recently, over 438 million DOGE were reported to have changed hands, sparking interest among the crypto community.
Following these whale movements, market sentiment around Dogecoin appears to be strengthening, suggesting potential volatility in the coming days. Whale Alert, known for tracking such activities, reported two significant whale transactions involving DOGE in the last 24 hours, totaling 438.28 million coins traded.
One notable transaction involved an unknown wallet sending 71 million DOGE to the California-based exchange Robinhood, valued at approximately $6.39 million at the time of writing. Additionally, another major transaction was observed between two unknown wallets, transferring 367.06 million DOGE worth $33.62 million.
At the time of reporting, Dogecoin’s price had experienced a slight decrease of 0.49% in the last 24 hours, trading at $0.09256. This dip also reflected in the token’s total market value, which saw a corresponding decline.
Despite the recent drop, Dogecoin’s price has increased by 1.84% weekly and 15.15% monthly, pleasing investors with its steady growth. The token’s 24-hour trading volume has also increased by 9%, currently standing at $527.14 million, indicating a positive trend in market activity and investor expectations.