Recently, whale movements have attracted attention for Dogecoin (DOGE) and many altcoin projects. While some whales were buying, some sent coins to exchanges. This has worried investors about whether the sale will be made or not. Here are the details…
Giant whale address received BLUR and DYDX
Before we talk about the coins sent to the exchange, let’s look at the purchases made by the big investors. According to the observations of on-chain data analyst Ember on July 22, there was activity in the two altcoins. The giant whale address, which started with 0x06c, purchased 1.75 million BLUR and 250,000 DYDX, with a total value of approximately $1.1 million, via inter-institutional OTC yesterday. It’s worth noting that this address has accumulated 23.75 million BLUR (average price: $0.487) since March 8. So the whale’s current variable loss is around 32 percent. This points to $3.69. He bought the DYDX coin with an average of $ 2.43. This shows that it currently has a loss of $1.23 million.
Compound team sent coins to Coinbase
On the other hand, if we look at the possibility of selling, coins going to crypto exchanges attract attention. According to Lookonchain, a giant whale address related to the Compound team has sprung into action. The team has invested 20,000 COMP (approximately $1.5 million) in Coinbase. The giant whale currently has 402,462 COMP (about $29.8 million).
DOGE whales in action
Finally, Blockchain tracking and analysis platform Whale Alert shared an announcement. Yesterday, he shared on Twitter that two whales have transferred millions of Dogecoin (DOGE) to exchanges. According to the first post by the platform, a whale transferred 85,000,009 DOGE to Binance yesterday from an unknown wallet, worth about $6,177,000. Additionally, a second post from Whale Alert stated that the other whale transferred 450 million DOGE worth more than $32 million from an unknown wallet to Robinhood.
These transfers can be the first signs of a potential DOGE sale. Therefore, according to many experts, investors should keep their eyes on the price of the meme coin. The altcoin’s price climbed above the $0.07152 resistance level in the past 24 hours. It continued to trade above this level at the time of writing. Traders may want to take a profit, which could cause DOGE’s price to correct to the recently broken $0.07152 price point in the next 24 hours. The continued selling pressure could drop the cryptocurrency as low as $0.06972, according to analysts. One thing to note, however, is that an important medium-term bullish technical flag has been triggered on DOGE’s daily chart over the past 3 days.
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