Dogecoin, one of the most popular meme coins running atop the Ethereum blockchain, echoed a sense of frenzy across the global crypto landscape on Tuesday as the token recorded a huge whale transaction. This transaction gave rise to a tidal wave of speculation among crypto market enthusiasts globally as it emerged amid the meme coin’s price rise.

According to on-chain data revealed by Whale Alert, the token appears to have noted the whale transfer of a staggering 990 million DOGE, attracting considerable attention globally.

Meanwhile, the market mood for the token appears to be taking an exciting turn following rising prices and whale activity.

DOGE Whale Transaction: A Closer Look

According to data revealed by blockchain tracking platform Whale Alert, a whopping 990 million DOGE worth $79.75 million in movement has attracted the attention of traders and investors in the blockchain market. cryptography today, January 16. Additionally, regarding the data, the unknown wallet, D78RSZmmfS… MChVeDyWx8 was noted moving the previously indicated amount to another unknown address, D79tQ1VkKn… m8XtUA8VEP.

Notably, the transfer of DOGE between unknown wallets appears to have sparked immense optimism among crypto market fanatics globally, demonstrating an increase in on-chain activity for the token. This has primarily sparked a strengthening price sentiment across the market as an increase in on-chain activity aligns with increased confidence among market traders and investors. Additionally, the transfer was made between unknown wallets, highlighting increased trading activity for the meme coin.

DOGE Price Springs
At the time of writing, Dogecoin price recorded a marginal jump of 0.43% in the last 24 hours and is currently trading at $0.8187. Additionally, the weekly chart of the meme coin also showed an increase of 3.57%. However, its monthly chart dipped 13.14%, allowing further deductions for the token.

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