What is the future trend of DOGE price? Dogecoin whales moved $52 million worth of the token in a matter of hours on Wednesday, after DOGE price dropped rapidly last week, falling from $0.092 to $0.082.

Dogecoin (DOGE), the largest meme coin by market capitalization, plunged more than 10% in today’s trading. The smiling cryptocurrency has fallen sharply over the past week. While the decline in DOGE price is escalating, whales have moved more than 600 million coins through popular cryptocurrency exchanges such as Binance and Robinhood, which may push the price further down.

Dogecoin whale transactions exceed 600 million

DOGE whales have made large trades of over 635 million coins (worth over $52 million) through popular cryptocurrency exchanges such as Binance and Robinhood. According to a post on Whale Alert on X, the latest transaction was via Binance, recording a transfer of 300 million DOGE from an unknown wallet to the exchange. The deal is valued at $24.62 million.

In addition, about 8 hours before the latest transaction, another important transaction was recorded. A whale transferred 151.68 million DOGE tokens worth $12.49 million from Robinhood to an unknown wallet. Additionally, two important Dogecoin transactions were recorded approximately 4 hours before this transfer.

Both transactions were sent to Robinhood via an unknown wallet. These transfers transferred 102.27 million and 82.08 million DOGE worth $8.4 million and $6.74 million respectively.

Most of the trades mentioned above were made towards cryptocurrency exchanges. This suggests that some whales have been selling off their DOGE positions during the recent price decline. However, a transaction transferring DOGE from Robinhood to an unknown wallet suggests that some people are taking advantage of the drop in Dogecoin prices in the hope of a future rise.

DOGE price plummets 10%

DOGE price fell by 10.10% as of Thursday, January 4, 2024, and is currently trading at $0.08243. Additionally, the meme coin has lost approximately 12% in value over the past seven days. Furthermore, despite the initial growth, the 1-month loss has reached approximately 9%.

Earlier, on Wednesday, the dog-themed cryptocurrency fell from $0.092 to $0.082 in two hours, accelerating the price decline.In addition, DOGE's market value fell by 9.95% to $11.77 billion. However, 24-hour trading volume has increased significantly. Trading volume surged 141.46% to $1.08 billion.

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