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Dogecoin whales transfer over 500M DOGE to unknown wallets

Dogecoin Whales transfer over 500M Dogecoin to unknown wallets

TL;DR Breakdown

  • In the last 48 hours, Dogecoin whales moved over 500 million DOGE tokens after Robinhood wallet support was announced.
  • The price of DOGE increased by 5%

Last weekend saw an immense influx of Dogecoin (DOGE) activity as a DOGE whale moved over 165 million tokens. Positive sentiment exploded when Robinhood, a zero-fee trading platform, announced support for DOGE in its newly released cryptocurrency wallet, causing the price to increase by 5% and reach a day high of $0.0928 on Monday.

Dogecoin whale accumulation: Over 500 Million DOGE tokens moved in 2 Days

Dogecoin Whale Alert recently reported that whales have collectively moved more than 500 million Dogecoin tokens in the last 48 hours. The largest accumulator of DOGE tokens also participated in this mass accumulation and gathered a whopping 165 million DOGE coins.

In the past 24 hours, another top whale moved 150 million DOGE tokens valued at more than $13 million. This move follows Robinhood’s announcement of Dogecoin availability on its recently launched “Robinhood Wallet” self-custody app.

Robinhood’s wallet address, “DPDLBA,” is the largest holder of Dogecoin, holding about 34.76 billion DOGE tokens – an astounding 25.21% of the total supply. That equates to $3.1 billion worth of Dogecoins in this single wallet alone. The second-largest owner only holds 7.08 billion coins, amounting to just 5.14% percent.

WhaleStats says Dogecoin is one of the most popular tokens purchased by the 100 major BSC whales in 24 hours. Even more impressively, it was also observed that Dogecoin whale accumulation ranked highly among the top 500 biggest BSC whales.

DOGE price increases by 5%

In the last 24 hours, Dogecoin (DOGE) has seen a significant surge in price of 5%, now trading at $0.0883. A 24-hour low and high have been established with values of $0.0851 and $0.0934, respectively, suggesting that demand is on the rise for DOGE tokens, as shown by an impressive 100% spike in volume over the same period.

The market sentiment and technical analysis indicate that we may see a slight jump in value up to $0.095 over the next few days. Nonetheless, breaking through the barrier of $0.1 might be more difficult due to market conditions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Damilola Lawrence

Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space.

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