The world’s biggest meme crypto, Dogecoin (DOGE) price usually registers huge spikes when Tesla and Twitter CEO, Elon Musk makes some comments about the token. Despite the recent broad recovery in the crypto market, Dogecoin prices haven’t moved much. However, whale wallets’ transactions suggest some unfavorable moves for the DOGE.
Over 300 million Dogecoin on the move
As per Ðogecoin Whale Alert, crypto whales have been caught moving more than 300 million Dogecoin (approx worth $27 million) in multiple transactions over the past 24 hours. The single largest transaction recorded by the tracker have been of moving 123.8 million DOGE (approx worth $10.9 million) to an unknown wallet.
Data depicts several transactions between unknown addresses and wallet addresses labeled as Top 20 wallets. However, these wallets were caught dumping $1.03 million worth of 11.69 million DOGE in a single transaction.
As we dig in, WhaleAlert flashed a whale transaction moving its Dogecoin holding to Coinbase, crypto exchange in order to dump. Whale dropped 57 million DOGE (Approx worth $5.11 million) on Coinbase. This whale move outlines that either whale are looking for a price surge ahead in order to book profit or they are trying to drag the DOGE price lower to add more tokens.
On the market side, Dogecoin price have surged by 16% over the past 30 days. While Shina Inu (SHIB) price rose by a massive 45% in the same period.
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