As reported by several sources, over the past two days, slightly over 820 million Dogecoin have exchanged hands between anonymous addresses. Some of these wallets were those from the top 20 list. 820 million DOGE on move According to @DogeWhaleAlert Twitter handle, around 12 hours ago, a staggering 200,000,000 worth $17,088,400 at the time of the transfer were shifted. The transaction was made from one top 20 wallet to another. Another DOGE lump sent from such a major wallet was 41,554,905 meme coins sent earlier, per the same source. Also, two mind-blowing Dogecoin transactions were spotted by Whale Alert crypto tracker earlier today and on Feb. 16. Chunks of 250,000,000 DOGE and 326,383,471 DOGE were moved from a wallet that had been dormant over the past two years. These Dogecoin transfers constituted $22,342,523 and $28,066,555 at the time they were made.
🐕🪙🐋🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨— Ðogecoin Whale Alert (@DogeWhaleAlert) February 16, 2023
200,000,000 $DOGE ($17,088,400 USD) was transferred from a #Top20 wallet to a #Top20 wallet.
Fee: 5.31 ($0.45 USD)
Tx: https://t.co/Lrb3ytz6jg#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
Whales have become quite active at the beginning of 2023. Earlier, U.Today reported about 36.8 billion DOGE transferred by a big meme token holder. Currently, the price of the original meme cryptocurrency is down by over 2% within the past 24 hours, but it has risen by 6.13% over the last seven days. Whales are likely to be either selling their DOGE or redistributing the meme coins among their wallets.
DOGE social sentiment soars – thanks to Elon Musk Data recently published by on-chain analytics aggregator Santiment shows that the leading meme token has reached a peak in social media sentiment that had not been seen since October last year. Back then, when this happened, DOGE’s price faced a massive rise by 160%.
🐶 This pattern of social volume and highly positive sentiment toward #Dogecoin perfectly illustrates how euphoria creates price tops. Regardless of your opinion on $DOGE, hype on this asset in particular historically foreshadows market corrections. https://t.co/vkUx1AAeix https://t.co/S0OKRaw0rW— Santiment (@santimentfeed) February 16, 2023
In late October 2022, tech mogul Elon Musk finalized his deal to purchase Twitter social media giant to turn it into an “all-things app,” as he called it in his tweets prior to that. In the summer, he bought 9.2% of Twitter shares, thus standing to be the largest single shareholder of the company. Then, he began suggesting adding Dogecoin as a payment option for Twitter Blue and offered to buy Twitter for $44 billion. Since then, the DOGE community has been hoping that after Musk gets control of Twitter, he would implement Dogecoin for micropayments for rewarding content creators. However, now Twitter is busy creating a Coins feature that will allow sending tips to the content creators users like best. It remains to be seen whether it will be DOGE or an internal Twitter currency made specially for that. At press time, DOGE is changing hands at $0.08682. In October, it soared to the $0.1216 level. Earlier this week, Musk tweeted a photo of his Shiba Inu puppy named Floki, naming him the new CEO of Twitter. This pushed the DOGE price to a peak of $0.09 briefly. #Dogecoin News #Elon Musk