Dogecoin Prices to Rise in the Future Whales caught moving 1.2 billion DOGE
Dogecoin News: Dogecoin, Elon Musk’s favorite meme coin, hasn’t seen much movement in the past seven days. This signals bearish sentiments among DOGE observers. However, it appears that major crypto whales have not been affected by the recent price drop since WhaleAlert reported on the market movements in a series tweets.
Whales Move 1.2 Bln. Dogecoin
WhaleAlert, a leading tracker of large crypto transactions, reported that 1.2 Billion DOGE, worth $99,241,593, were moved between “unknown” wallets in the last hour. After the cryptocurrency suffered significant losses in the last 24 hours, three consecutive transfers moved 400,000,000 Dogecoin each.
Source: CoinMarketCap. According to CoinGape’s price tracker, DOGE lost more than 0.87% over the past 24 hour and is currently trading at $0.08136. The gains made by the recent price rally have been erased by the meme coin’s 13.11% drop in the past seven days. Its 24-hour trading volume has fallen by 47.66%, to $392 million.
What’s next for the meme coin
Dogecoin’s latest decline has traders questioning whether the cryptocurrency ever broke out of its bear markets. Despite the cryptocurrency being up more than 60% since its 2021 lows it is difficult for traders to remain positive due to constant fluctuations.
Dogecoin’s rivals like Shiba inu, Baby Doge Coin and BONE are also seeing an upward trend. Over the past 24 hours, DOGE killers have outperformed the top meme cryptocurrency on the market.
Also read: Breaking: India’s Finance Minister Answers Crypto Regulation and Adani Questions
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