Dogecoin Prices Rise in Sight The Dormant DOGE Whale Rises From the Dead
Dogecoin Price News – A mysterious Dogecoin whale has emerged out of the ashes and shocked cryptocurrency markets. Lookonchain tweeted that a Dogecoin wallet which has been inactive for two years had transferred 326.5 million Dogecoins to a new address. This could be because Twitter CEO Elon Musk wanted the social media platform to accept cryptocurrencies like Dogecoin.
Dogecoin Whale wakes up
Lookonchain’s Twitter account posted the rebirth of a dormant Dogecoin Whale on February 17. After being inactive for two years, this address transferred 326.383,472.76 millions DOGE tokens (worth approximately $25 million) to a new address.
Many Twitter users mock the wallet owner by calling them “Lazy” and suggesting that they have finally realized they are a millionaire and decided it was time to unlock their fortune. Others predicted a massive Dogecoin price drop.
Doge Pump Available?
The large transfer could cause a drop in the price of the meme cryptocurrency. However, if the recipient sells the coins immediately on the market, this could increase the supply and push down the price. There is another scenario: The recipient can keep the coins for a while longer before selling them. This will have minimal impact on the Dogecoin value.
Dogecoin trades at $0.08656 as of press time. There has been a 2.53% price drop in the last 24 hour. It has a market capitalization at $11,484,035,384 with a trading volume of 4.86% and a market capitalization totaling $11,484,035,384. It now stands at $727.209,980. According to CoinMarketCap, the circulating supply of DOGE is approximately 132.670,764,300 DOGE.
Also read: Dogecoin News – Whales Make Billions in DOGE Following Elon Musk’s Tweet, Is $0.1 Next
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