Dogecoin Whales Accumulate Over 1.4 Billion Tokens Worth $140 Million in 48 Hours

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As a seasoned crypto investor with over a decade of experience in this wild, digital frontier, I’ve witnessed countless trends come and go. However, nothing quite compares to the rollercoaster ride that is Dogecoin ($DOGE). Just recently, I’ve seen some whales amassing over 1.4 billion tokens in a mere 48 hours, adding a hefty $140 million to their wallets. This is a clear sign of growing interest and confidence in the meme-inspired cryptocurrency.

In just 2 days, major Dogecoin ($DOGE) investors (referred to as “whales”) have accumulated approximately 1.4 billion tokens, which equates to around $140 million dollars’ worth of the most prominent meme-based cryptocurrency by market capitalization. This significant increase has been added to their digital wallets.

According to information from chain analysis company Santiment, which was recently posted by well-known crypto analyst Ali Martinez on social media platform Twitter to his more than 72,000 followers, this data suggests…

#Dogecoin whales bought over 1.40 billion $DOGE in the past 48 hours, worth around $140 million! — Ali (@ali_charts) September 26, 2024

Currently, the digital currency inspired by memes is trading at $0.124. It’s experienced a significant surge of over 16% in value during the last seven days, coinciding with a general upswing in the cryptocurrency market. This bullish trend has also pushed the price of Bitcoin beyond $65,500, rising by more than 3.4%.

Remarkably, the price is now hovering near a substantial barrier at approximately $0.11, where approximately 23,400 wallets hold about 31 billion Dogecoin tokens.

According to reports, the number of Dogecoin (DOGE) wallets holding it has surpassed 90 million. It’s important to clarify that a single wallet does not necessarily equate to a single user. Users can create multiple DOGE wallets, and some wallets, such as those owned by exchanges, may contain DOGE belonging to several users.

Previously this year, the chief executive of Tesla and Space X, Elon Musk, expressed an interest in Bitcoin and other digital currencies while also confessing a special affection for Dogecoin. He mentioned, “I have a certain fondness for Dogecoin because I enjoy dogs and memes.

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2024-09-28 01:22