Home Cryptocurrency News Anonymous Wallet Gets Over $15 Million Worth of Dogecoin

Anonymous Wallet Gets Over $15 Million Worth of Dogecoin

Dogecoin starts the year with a fresh start as the first week itself witnessed a large activity. The reports from DogeWhaleAlert state that around 90.3 million of the dog-faced coins have been moved between anonymous wallets in the last 24 hours alone. The total value of the volume moved comes up to 15 million dollars in fiat money. As per the reports, the bulky shift did not happen through a single transaction as the 90 million coins were split between 14 different transactions. The largest of them carried around 15 million dog tokens, while the other transaction transferred between 1 to 8 million tokens.

This is not the first time Dogecoin has had whale activity, as the coin has kept catching the eyes of whales for months now. The significant catalyst for this increased interest came from Elon Musk’s owned Tesla, whose announcement about the acceptance of Dogecoin in the company brought about a 148% hike. Ever since this public act by Tesla, whales have been showing an increased interest in meme-coin.  The current reports show that an impressive amount of Dogecoin has been reserved by the whales. At one point, a whale held around 28% of the total volume of the meme-coin.

These activities promptly follow the forecasts of Dogecoin as a long-term investment model for 2022. Dogecoin has been working towards getting rid of its meme tag for good, and as per the predictions, Dogecoin does not look as volatile as other protocols like Shiba Inu. The coin stands firmly at $0.16 currently. The forecast on https://www.cryptonewsz.com/forecast/dogecoin-price-prediction/ claims that it might even surpass the $0.3 mark by the end of the year. Moreover, with emphasis coming from all around Dogecoin as an optimal candidate for currency for payments, the coin adds a bit more to its basket. As for the long term, the coin is predicted to reach $0.41 by the end of 2023 and is likely to keep the bullish streak to another five years. These predictions well substantiate the interest of whales in this meme-coin lately.

However, the whale activity has not brought any significant hike to the wheel as the coin has lost %0.61 of its trading value. In addition, the coin also posted a downfall in the trading volume, which stayed at 500 million on December 2, as per the reports of Footprint Analytics. Nonetheless, Dogecoin managed to hold its place as the number one meme-coin with a market cap of around 22 billion.

Timmy Murphy
Timmy is a crypto and finance analyst. He deals with finance news-stories. He has completed his graduation in accounting and Finance. He is also a blogger and is famous for his finance blog. For any issues, feel free to contact him at email: timmy@forexnews.world

Must Read

Banxso: Earn Huge Returns with Its Benefits!

About Banxso Thousands of trading platforms online have emerged with the adoption of the internet, and now they are paving the way for a range...

Is Investing in Stellar Lumens (XLM) a Good Idea?

Introduction to Stellar (XLM) Stellar is a decentralized cryptocurrency exchange platform that lets users create and trade various cryptocurrencies. The Stellar platform was created in...

3 Factors That Influence Cardano Price

Introduction to Cardano Cardano is a 3rd generation decentralized application(dapp) development and public blockchain platform. Investors are paying attention to Cardano's unique built-in review research...

Buterin Reveals How He Burned Almost $7B Worth of Shiba Inu (SHIB)

Vitalik Buterin, a Co-Founder of Ethereum, spoke to the UpOnly podcast. He admitted to burning Shiba Inu tokens worth $7 billion. Vitalik Buterin burned...

Microstrategy CEO Won’t Sell $5 Billion in BTC Despite Crypto Winter

Despite the fact that the value of Bitcoin (BTC) has dropped by 40%, MicroStrategy's Michael Saylor has no plans to sell his $5 billion...