DOGE Sees Massive Whale Activity as Dogecoin Flips Cardano
Dogecoin’s daily trading volumes surged by a staggering 50% to $3.17 billion as DOGE price clocks nearly 50% gains over the past week.
Prominent crypto tracking service WhaleAlert recently reported the massive transfer of Dogecoins over the past 24 hours. Interestingly, these transfers involved the popular zero-fee trading app Robinhood. As per reports, anonymous whales were part of these massive transfers moving a staggering two billion DOGE while actively engaging with the investment app.
The Whale Alert data also shows that there have been several huge DOGE transactions taking place over the past day. Each of these transactions involved tens of millions of Dogecoins. In total, approximately 1.87 billion DOGE, equivalent to $196.9 million in fiat currency, has been transferred.
As it turns out, the anonymous crypto whales withdrew nearly 50% of the total Dogecoins moved, from Robinhood. On the other hand, a similar amount of DOGE was deposited to Robinhood after these withdrawals. This significant movement of DOGE highlights the active participation of large investors in the Dogecoin market, particularly through platforms like Robinhood.
Amid the bounceback in the broader cryptocurrency market, Dogecoin (DOGE) has also participated in the rally equally. In the last 24 hours, Dogecoin price has surged by 4.5% moving all the way to $0.18. Also, the daily trading volume for DOGE has surged by 51% shooting all the way to $3.28 billion.
Dogecoin Overtakes Cardano
Amid the latest price surge, Dogecoin (DOGE) has jumped to the 8th spot among the top-ten crypto list while leaving Cardano behind. The market capitalization of DOGE stands at $26.05 Billion, surpassing the $24,08 billion market capitalization of Cardano’s native coin, ADA. This isn’t a new occurrence for DOGE, as it previously exceeded ADA’s market cap earlier this March.
