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While many are still celebrating the new year and planning how to start, <\/span>Dogecoin<\/span><\/a> whales already have a field day in the market.\u00a0<\/span><\/p>\n Data<\/span><\/a> from the @DogeWhaleAlert Twitter account shows that several whales have transferred up to 90.3 million Dogecoin, which is over $15.5 million to an anonymous wallet in the past 24 hours.\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n The whole amount was transferred in 14 transactions, with the largest transferring more than 15 million Dogecoin at once. Other transfers ranged from 1 to 8 million units of <\/span>DOGE<\/span><\/a>.\u00a0<\/span><\/p>\n Despite the large volume of transactions, the fee deducted for the overall transfer was less than 500 Dogecoin, with only 103.37 DOGE ($17.9) charged for the largest transactions.\u00a0<\/span><\/p>\n This isn\u2019t the first time there\u2019ll be a significant whale move of the meme coin; in fact, whale activity has been increasing over the past few months.\u00a0<\/span><\/p>\n Following the news that <\/span>Tesla<\/span><\/a> may accept Doge for its merchandise, whale activity for the token increased by 148%, which suggests that lots of wallets with a high amount of Doge were trading the asset.<\/span><\/p>\n There are several whale wallets holding massive amounts of Dogecoin, with one wallet holding 28% of the total volume at a point in time.<\/span><\/p>\n<\/div>\n<\/div>\n The whale move hasn\u2019t had any significant effect on the token price, which remains at $0.17. Any effect of the whale movement is a slight 0.61% decrease in price.<\/span><\/p>\n With its price down, the token has also seen significantly low trading volume with a 24h trading volume of around $500 million as of December 2, according to <\/span>Footprint Analytics<\/span><\/a>.\u00a0<\/span><\/p>\n This is far from the trading volume of $6 billion as of December 14. However, Doge remains the number one meme coin, ranking 12th with a market cap of around $22 billion and 1% market dominance.<\/span><\/p>\n Per available data, we could see the asset perform a similar bull run to the one witnessed in early 2021 if it were to witness a breakout above a double-top which would take the coin into a bull market meaning it has risen above the current bearish nature of the market.<\/span><\/p>\n<\/div>\n<\/div>\nDogecoin Whale Transfers Over 90 million Units of the Coin<\/span><\/h2>\n
Dogecoin\u2019s Value Declines Slightly in the Last 24 Hours<\/span><\/h2>\n