Crypto analyst and trader Ali Martinez has used Twitter, or the “X app” as it is now known, to communicate information about whales amassing enormous quantities of DOGE, the original meme coin.
These wallet users have significantly boosted their meme currency holdings over the last few weeks, according to his tweet.
Whales scooping up billions of DOGE
According to a statistic Ali posted from IntoTheBlock, three billion Dogecoin have been acquired by DOGE whales of varying sizes over the course of the last three weeks. That has a value of $225 million.
The snapshot of the chart indicates that the purchase got underway on July 3.
Meme coins kick off as week starts: DOGE, SHIB
Santiment stated earlier today that meme currencies like SHIB, DOGE, and APE have had a solid start to the day. A quick increase of 2.63% was followed by a drop of 4.16% for Shiba Inu.
DOGE increased by more than 8% before falling by 5% and then gaining by 3.77% again. APE increased by 3% before decreasing by 3.5%.
Santiment attributed significant increases, particularly in DOGE, to the intense emotion surges on social media. “DOGE excitement is heating up,” said the tweet.
Elon Musk changes Twitter name to “X”
Elon Musk, the tech tycoon and owner of Twitter, has begun rebranding Twitter as the “X” app. He has long talked about doing this, saying that among other things, he plans to add job searching, dating, and payment functions to it, turning Twitter from a microblogging platform into “an everything app.”
He has already switched the platform’s iconic blue bird emblem with the letter “X” instead. The XRP community is really enthusiastic by this revelation.
In addition to subscriptions, he has already started publishing more writings and videos. With the latter, content producers can impose a certain amount of recurrent monthly payments on their users. According to Musk, the Twitter (now “X” app) functionality will be free for the first year. In the upcoming years, it will start to charge a modest proportion.
Before Musk paid $44 billion to buy Twitter in October of last year, Musk urged to the management that DOGE be made available as a method of payment for Twitter Blue.
He frequently praised the first joke cryptocurrency and made hints about his desire to incorporate DOGE on Twitter. Now that Musk has started to rename the app as “X,” the cryptocurrency world is closely watching that procedure to see if Dogecoin will actually be added.
