A recent transfer of 151 million Dogecoins from Binance to an unidentified wallet was reported by WhaleAlert. A transfer from Binance to an unidentified wallet for 151,605,154 DOGE valued at $12,094,316 was noted by the cryptocurrency data tracker.
Although it cannot be completely ruled out that a major whale made the purchase, the transfer appears to be an internal wallet shuffle because a peep to gain more information indicates transactions across Binance wallets.
DogeWhaleAlert noticed one of the Dogecoin transactions, noting that 90,071,993 DOGE worth $7,202,066 were moved from several wallets to a Binance wallet.
DogeWhaleAlert also noted the transfer of 12,999,996 DOGE worth $1,046,786 from a Binance wallet to an unidentified wallet.
Also, five transactions totaling 5,000,000 DOGE worth $400,290 were detected by DogeWhaleAlert between Binance wallets.
Dogecoin refuted the assertion that individual investors, or so-called “whales,” possess specific wallets that contain a sizable portion of its supply, as was previously stated.
The truth is that it makes clear that many of the most well-known Dogecoin wallets are either cold wallets or hot wallets run by exchanges and brokers, and as a result, they represent Dogecoin that is being kept in custody by thousands of people.
What’s next for Dogecoin price?
Dogecoin sank to bear action after six days of gains as traders booked profits. On April 21, the dog-themed cryptocurrency crashed to a low of $0.076 as a result of three straight days of market losses.
After then, Dogecoin started to bounce back and at the time of writing, it had increased 1.6% in the previous day to $0.08.
A short-term intermediate hurdle on the upward for Dogecoin is still around $0.082, which is also the location of the daily MA 200. To continue trending upward, Dogecoin must maintain a position above the daily MA 50 support at $0.079.
On the other hand, a retest of levels close to $0.071 can occur if prices continue to fall below the $0.076 support.
