The world’s biggest meme crypto, Dogecoin (DOGE) price usually registers huge spikes when Tesla and Twitter CEO, Elon Musk makes some comments about the token. Despite the recent broad recovery in the crypto market, Dogecoin prices haven’t moved much. However, whale wallets’ transactions suggest some unfavorable moves for the DOGE.
Over 300 million Dogecoin on the move
As per Ðogecoin Whale Alert, crypto whales have been caught moving more than 300 million Dogecoin (approx worth $27 million) in multiple transactions over the past 24 hours. The single largest transaction recorded by the tracker has been of moving 123.8 million DOGE (approx worth $10.9 million) to an unknown wallet.
Data depicts several transactions between unknown addresses and wallet addresses labeled as Top 20 wallets. However, these wallets were caught dumping $1.03 million worth of 11.69 million DOGE in a single transaction.
As we dig in, WhaleAlert flashed a whale transaction moving its Dogecoin holding to Coinbase, crypto exchange in order to dump. Whale dropped 57 million DOGE (Approx worth $5.11 million) on Coinbase. This whale move outlines that either whale are looking for a price surge ahead in order to book profit or they are trying to drag the DOGE price lower to add more tokens.
However, Dogecoin prices have registered a marginal drop over the past 24 hours. As per Coinglass data, traders have liquidated $1.60 million worth of 18.03 million DOGE in the last 24 hours. It is trading at an average price of $0.088, at the press time. Its 24 hour trading volume has dropped 38% to stand at $604 million.
The post Dogecoin Sell-Off Ahead? Whale Trnxs Suggests This appeared first on CoinGape.
This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.
#Bitcoin #Crypto #Cryptocurrency