GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout

Dogecoin Whales Scoop Up 700 Million DOGE in 72 Hours

While meme coins are all the rage now, the OG Dogecoin has been relatively quiet. DOGE’s price action has been underwhelming at $0.158, as it was almost 4% down over the past week.

Despite this, whales have bought more than 700 million DOGE in the past 72 hours alone. This stash is worth around $112 million at the current price of $0.16.

DOGE Whales Accumulate

Dogecoin’s recent performance has been mixed. It gained over 17% monthly but declined over the past week and fell 0.5% in the last 24 hours.

Whale buyers took advantage of this volatility, with holdings in the 100 million to 1 billion range increasing significantly since May 29, coinciding with a bearish trend reversal. With over $112 million accumulated by whales, the current recovery trend is worth noting, according to popular crypto analyst Ali Martinez’s latest update.

The accumulation trend was further validated by Singapore-based crypto-trading firm QCP Capital’s observation, according to which traders have shifted their focus to legacy meme coins.

In addition to Dogecoin, tokens like Shiba Inu (SHIBA) and Pepe (PEPE) have gained significant attention, showing double-digit gains between 10% and 20%. These tokens are now among the top 10 in Open Interest, indicating heightened trading activity and investor interest in the meme coin sector.

SHIB and PEPE Chart Rallies

In the past two weeks, over 4 trillion SHIB tokens, valued at approximately $103 million, have been transferred to crypto exchanges. This movement suggests increased trading activity and potentially indicates a trend of investors looking to capitalize on SHIB’s recent price movements.

This follows Shiba Inu’s layer-2 scaling solution, Shibarium, achieving a significant milestone by processing over five million blocks since its launch in August last year. The network has also handled over 417 million transactions, with the number of wallet addresses exceeding 1.8 million.

Meanwhile, PEPE has been on a tear, gaining almost 130% over the past month. A whale made nearly $5 million in profit from the PEPE token within a month, achieving a 52% return on their initial investment as the token price briefly dropped over 17% from its all-time high. This whale deposited all 660.7 billion PEPE tokens, worth $9.52 million, into a Binance wallet.

The post Dogecoin Whales Scoop Up 700 Million DOGE in 72 Hours appeared first on CryptoPotato.

Latest Press

post-thumbnail
News
3 hours ago
6 Ways to Make Money Fast with Crypto in 2024 – Daily Payouts
Do you need to make money in a few days? Whether offline or online, there are more possibilities tha...
READ MORE
post-thumbnail
News
3 hours ago
XRP’s Price Stagnation: Insights from Ex-Ripple Director Amid Legal Battle
Ex-Ripple executive Sean McBride says that despite all the technical analysis and predictions, nothi...
READ MORE
post-thumbnail
News
3 hours ago
Investor Alert: XRP Reacts to SEC Case Verdict and Ripple Appeal
The recent settlement deal between the US SEC and Terraform Labs has sent shockwaves to the Ripple c...
READ MORE
post-thumbnail
News
3 hours ago
Crypto Analyst: Dogecoin and Solana Reach Critical Juncture, Make-It-or-Break-It Levels Approaching
Dogecoin and Solana have reached critical price points and could see a rebound soon. Crypto analyst ...
READ MORE
post-thumbnail
News
3 hours ago
Ripple-SEC Case: Pro XRP Lawyer Predicts Big Victory for XRP Army
 Fred Rispoli, Senior partner at Hold Law has predicted a verdict will be reached in the Ripple-SEC...
READ MORE
post-thumbnail
News
3 hours ago
Dogecoin Founder Unveils Elon Musk’s Potential Billion-Dollar Surge: Could You Copy It?
Billy Markus, co-creator of Dogecoin, stands in solidarity with Elon Musk regarding Tesla’s $56 bi...
READ MORE
post-thumbnail
News
3 hours ago
Cardano (ADA) Struggles Amidst FOMC Volatility Despite Chang Hard Fork Announcement
Cardano (ADA) is struggling to build up bullish momentum despite network developments including the ...
READ MORE
post-thumbnail
News
3 hours ago
Maximize Earnings with CryptoHeap: Achieve Financial Freedom through Crypto Staking
The post Maximize Earnings with CryptoHeap: Achieve Financial Freedom through Crypto Staking appeare...
READ MORE
post-thumbnail
News
3 hours ago
Crypto Regulations in Vietnam 2024
The post Crypto Regulations in Vietnam 2024 appeared first on Coinpedia Fintech News Vietnam, a soci...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started