A few hours ago, the well-known blockchain detective Whale Alert reportedly saw an astounding quantity of Dogecoin—the original meme cryptocurrency—being moved between unregistered wallets.
The price of Dogecoin is now trying, but so far hasn’t been very successful, to break out of the range.
990 million DOGE on the move
The previously mentioned cryptocurrency tracker announced in a recent tweet that an enormous quantity of DOGE meme-inspired coins had been moved from one anonymous blockchain address to another. A staggering 990,000,000 DOGE chunk changed hands; at the moment of issuance, this quantity of meme coins was valued at an amazing $79,757,842.
According to information given by Whale Alert, there were really 11 transactions totaling 990,000,000 coins, each containing 90,000,000 Dogecoin.
That being said, whales have moved an astounding amount of Dogecoin before. Massive billions of Dogecoin were removed from the Binance exchange on January 9 and an equivalent quantity of DOGE was transferred on December 26, as previously reported by U.Today.
https://x.com/whale_alert/status/1747149090398306465?s=20
Dogecoin community abuzz; DOGE price action
The Dogecoin community is having a contentious debate in the comments section beneath the tweet on the 990 million meme coin transfer. Many DOGE users have speculated that this may be an indication of an impending DOGE dump and are curious about the sender and recipient of the Dogecoin transfer.
Dogecoin, the original joke cryptocurrency, has experienced an almost 5% dip since Sunday, falling from $0.0843 to $0.0803 levels. As of right now, the asset has seen a 2% marginal growth. All things considered, the meme cryptocurrency is aiming to rise beyond the $0.0816 barrier mark. Since Sunday, there have been several attempts to do that, but the DOGE keeps declining following brief increases.
Tech mogul Elon Musk admitted that he still owns Dogecoin and hasn’t sold his hoard during a newly recorded and released podcast.
The DOGE community is once again asking if DOGE will be included in the X app, given the recent news that X has acquired enough licences in the US to start a payment business.
Musk, however, has not provided any explanation for this query.
