Analysis

Dogecoin Whales Move Over $335,000,000 in DOGE in the Last 24 Hours

Deep-pocketed Dogecoin (DOGE) investors have abruptly moved hundreds of millions of dollars worth of the meme asset during the last 24 hours.

According to new data from whale-tracking platform Whale Alert, high-net-worth DOGE traders have moved about $335,000,000 million worth of the dog-themed memecoin during the last day.

Of the seven notable transactions on Whale Alert’s radar, which were similar in nature, just one of them was under the $48 million mark. The transactions include:

Recently, crypto analyst Nicholas Merten, who hosts DataDash, predicted that Dogecoin will bottom out by the end of 2023 or sometime during 2024 and spark a fresh rally. However, the strategist says that traders should expect DOGE to drop down to somewhere between $0.035 and $0.025 before it reverses course.

Dogecoin is trading for $0.062 at time of writing, a 1.66% decrease during the last 24 hours.

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Featured Image: Shutterstock/IR Stone/MrArtHit



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