Dogecoin price had received immense attention in recent times as Elon Musk acquired Twitter and completed the $44 billion deal. While many speculated that the asset may also be included as one of the payment options along with other cryptos, the DOGE price gained huge bullish momentum.
Unfortunately, at this point in time the price appears to be trapped in a bearish effect and hence it is believed that there will be a significant decline in the coming days.
Meanwhile, the Dogecoin whales have become extremely active of-let as a large amount of DOGE has been transferred onto the exchanges. They have moved nearly 256 million DOGE to Binance & Coinbase despite Elon Musk’s Twitter takeover.
According to data shared by Whale Alert, which records large and interesting transfers, these tokens were transferred in 2 separate transactions. Initially, 212.3 million DOGE was transferred to Coinbase worth $26.67 million.
Further, another transaction of transferring 43.67 million DOGE to a Binance address was recorded worth $5 million at the press time.
Despite the fact that Elon Musk hinted at a possible Twitter acceptance of Dogecoin, the price of DOGE continues to drop drastically. The popular coin is currently valued at $0.1169, down 5.06% over the past 24 hours. Meanwhile, the market cap also declined by over 5%, but trading volume rose more than 27% to reach $1.4 billion, indicating a revival of the bearish impact on the asset.
