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šŸ‹ Whale Activity Boosts Dogecoin Holdings DogecoinĀ investors, during recentĀ marketĀ movements, saw theĀ priceĀ drop from $0.1686 to $0.1423 and accumulated DOGE. Recently, on May 6th, DOGE moved above the price level of $0.168, which brought 5.21 million addresses into a profitable position. However, after this, the situation reversed. A minor correction in the price was observed throughout May 7th. According to on-chain data provided by Santiment, DOGE whales took advantage of this drop and purchased 265.86 million DOGE tokens. šŸ”ø DOGE Accumulating Whales According to data from the on-chain platform Santiment, addresses holding between 100 million and 1 billion DOGE increased their holdings by 1%, capturing 21% of the total supply on May 7th. Interestingly, the number of tokens held by these whales increased by 265.86 million DOGE, valued at approximately $41.2 million. This increase was significant in the market compared to the 342 million DOGE that left their possession the day before the whale entry. The latest data reveals that accumulation on exchanges is still ongoing. Meanwhile, recent data shared by the whale tracking platform Whale Alerts indicates that 120 million DOGE tokens, valued at 18 million dollars, were purchased from the cryptocurrency exchange Robinhood and transferred to wallets within a few hours. šŸ”ø The Significance of DOGE and Whale Movements Whale activity and sentiment are essential for any cryptocurrency, especially for aĀ meme tokenĀ like Dogecoin, whose value is mostly driven by hype and market sentiment rather than demand for utility. These whales typically move the market, and accumulation or selling by a few large traders can alter the sentiment of other investors. At the time of writing, DOGE was trading at $0.1448. The price correction that occurred between May 6th and May 9th seems to be continuing. Despite this, the price is still above the $0.143 level it jumped to during that period. Currently, DOGE has seen a 4% decrease in the last 24 hours and a 4% decrease over the last seven days. $DOGE #DOGE

šŸ‹ Whale Activity Boosts Dogecoin Holdings

DogecoinĀ investors, during recentĀ marketĀ movements, saw theĀ priceĀ drop from $0.1686 to $0.1423 and accumulated DOGE. Recently, on May 6th, DOGE moved above the price level of $0.168, which brought 5.21 million addresses into a profitable position. However, after this, the situation reversed. A minor correction in the price was observed throughout May 7th. According to on-chain data provided by Santiment, DOGE whales took advantage of this drop and purchased 265.86 million DOGE tokens.

šŸ”ø DOGE Accumulating Whales

According to data from the on-chain platform Santiment, addresses holding between 100 million and 1 billion DOGE increased their holdings by 1%, capturing 21% of the total supply on May 7th.

Interestingly, the number of tokens held by these whales increased by 265.86 million DOGE, valued at approximately $41.2 million. This increase was significant in the market compared to the 342 million DOGE that left their possession the day before the whale entry.

The latest data reveals that accumulation on exchanges is still ongoing. Meanwhile, recent data shared by the whale tracking platform Whale Alerts indicates that 120 million DOGE tokens, valued at 18 million dollars, were purchased from the cryptocurrency exchange Robinhood and transferred to wallets within a few hours.

šŸ”ø The Significance of DOGE and Whale Movements

Whale activity and sentiment are essential for any cryptocurrency, especially for aĀ meme tokenĀ like Dogecoin, whose value is mostly driven by hype and market sentiment rather than demand for utility. These whales typically move the market, and accumulation or selling by a few large traders can alter the sentiment of other investors.

At the time of writing, DOGE was trading at $0.1448. The price correction that occurred between May 6th and May 9th seems to be continuing. Despite this, the price is still above the $0.143 level it jumped to during that period.

Currently, DOGE has seen a 4% decrease in the last 24 hours and a 4% decrease over the last seven days.

$DOGE #DOGE

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.Ā See T&Cs.
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