The Dogecoin Whale Takes Action: Hundred Million Sales Coming?

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Elon Musk’s Twitter logo dogecoin symbol triggered a 33% increase in DOGE price. While all these transactions are taking place, on-chain data is very active.

The fifth largest holder of Dogecoin transferred 650 million DOGE ($61.3 million), after a 33% increase. On-chain analytics firm Lookonchain pay attention to this process. pulled.

The transaction took place on April 3, just after the rally, according to the data. While the transaction is taking place DOGE It was trading at $0.094 and had just registered a 22% increase. The address that made the transaction currently has 3.78 billion DOGE in its wallet. The asset remains the fifth largest DOGE owner, with a cumulative profit of $80.14 million so far.

The address where the transferred 650 million tokens went is also quite interesting. The assets were transferred to the 18th largest wallet, which also disposed of 300 million tokens soon after.

The data in question is not very detailed, and the wallet owners are also unknown. As this was the case, the community made many speculations on these transactions. While some members believe that the addresses are preparing for a big sale, some members believe that these addresses are ready for a big sale. Elon MuskHe claimed it belonged to However, the community generally rejects this view.

Elon Musk Backs Dogecoin Again, The Price Takes Off

Dogecoin Transaction Volume Jumps

LunarCrush announced today that Dogecoin’s 24-hour trading volume has risen to $3.54 billion, its highest point in the last three months. According to LunarCrush, in the previous three times this surge has been seen, DOGE has increased by an average of 18.4% over the following week.

You can follow the current price action here.

Source : The Crypto Basic


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