Sight from Whale Alert highlights an undisclosed wallet transfer 67,881,717 DOGE equivalent to around $5,083,357 to #Coinbase. This transaction has caught the crypto community’s attention, especially the #Dogecoin community and the coin exhibited a 3% surge in the past 24 hours.
The surge in value mirrors the broader upward trend in the cryptocurrency market. Yes, it is clear that this transfer causes a rise in the price of DOGE and you will agree with me that, the Whale can also dump by offloading a significant amount of the cryptocurrency which can trigger market fluctuation.
More With Dogecoin
In today's decentralized market, DApp features are an important factor in the crypto market following the solution it brought to the financial system.
Dogecoin is known to be a meme coin with only one utility (Payment coin). The introduction of #Dogechain has opened opportunities for DOGE holders to interact with DApps and record their rewards in the decentralized market.
In case you are new to Dogechain, the chain is applying the layer 2 solutions used by Ethereum (ETH) to improve the usability of its blockchain to the Dogecoin blockchain, by bringing more use cases to the meme token. With this chain, investors on Dogecoin can easily participate in decentralised finance (DeFi) , or mint non-fungible tokens (NFTs).
The Dogechain’s native $DC token is presently surging, after a vote to reduce its token supply by 80% and now, the average lock time is 4 years with 29.90% presently locked and about 45% of veDC staked in POS.
Learning more about Dogechain might be an interesting thing to do this time as there are NFTs projects launching on the chain and a lot happening within the chain, like Dogegress a decentralized governance platform dedicated to Dogechain where Dogechain community create and vote on proposals, with veDC, the governance token of Dogechain. So far, 5 proposals have been executed.
