Dogecoin Whale Operation: 438 Million DOGE Moved Amid Price Drop!

Dogecoin, the charismatic meme-based cryptocurrency, is making waves again as significant whale transactions totaling 438 million DOGE were observed amid the recent price drop. Let’s take a quick look at what’s happening and possible future scenarios:

Revealed Whale Action:

According to on-chain data, notable transactions occurred among Dogecoin whales, with a whopping 438.28 million coins moved in the past 24 hours. The market is paying special attention, especially with the coin’s price falling in tandem.

An unknown wallet, DF8jRK7rt6…fjcJHvjEGb, transferred 71 million DOGE, worth a total of $6.39 million, to California-based centralized exchange Robinhood.

Another large transaction involved the transfer of 367.06 million DOGE worth $33.62 million between unknown wallets, adding novelty to the market dynamics.

Price declines and resilience:

As of the latest update, Dogecoin has shown slight decline over the past 24 hours and is currently trading at $0.09202. Despite this, the total market capitalization of the token decreased by 0.27% to $13.1 billion. However, the coin’s weekly gains of 1.84% and monthly gains of 15.15% highlight its resilience.

Bullish signals in price correction:

Market charts show a positive outlook, with trading volume increasing by 5.67% in the past 24 hours to $521.14 million. The bullish sentiment is fueled by gradual upward momentum on the coin market charts.

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