Binance: Dogecoin (DOGE), the biggest meme coin, has come to the fore with whale movements. The biggest Binance whales are focusing on DOGE over the weekend, according to the data. Here are the details…
- 1 Binance whales focus on Dogecoin
- 2 Elon Musk, DOGE’s number one supporter
- 3 Dogecoin price action
- 4 Share this:
Binance whales focus on Dogecoin
According to IntoTheBlock data, Dogecoin whales are processing large transactions. During the past day, the trading volume has increased by 45%. Large transaction fluctuations are typically associated with increased buying or selling activity of whales, and a transaction is usually more than $100,000. AmkNews.com As we have also reported, whales are investors who hold large amounts of coins.
This move comes after 600 million Dogecoins were transferred to trading platform Robinhood in four separate transactions. According to Dogewhale data, 299,000,000 DOGEs were transferred in the largest of these transactions. 100,000,000 DOGE was transferred to each of the others. On the other hand, according to the report of WhaleStats, Dogecoin is among the 10 most purchased assets among 100 BSC (Binance Smart Chain – newly named BNB Chain) whales. Dogecoin is among the biggest Binance whales and also as one of the most used smart contracts in the last 24 hours.
Elon Musk, DOGE’s number one supporter
Earlier in the week, Tesla CEO Elon Musk reiterated his support for Dogecoin. Meme shared his comments on why he supports the coin. In an interview at the Qatar Economic Forum, Musk told Bloomberg, “Many people who are not that rich encouraged me to buy and support Dogecoin. I answer these people,” he said.
Elon Musk remains a staunch advocate of Dogecoin. The meme cryptocurrency’s surge to an all-time high of $0.76 in May 2021 coincided with Musk’s appearance on the “Saturday Night Live” show. At current prices, Dogecoin is down 90.97 percent from its all-time high. Dogecoin also ranks 11th in cryptocurrencies by market cap.
Dogecoin price action
Dogecoin recovered from the lows of $0.04 on June 18. It rose a little. DOGE was up a small 1 percent at the time of writing. The cryptocurrency ranks 11th with a market cap of just over $9 billion. Although its rise was small, it has increased by 28.2 percent in the last 7 days. However, the 14-day, 30-day and 1-year exchange rate shows a decline. DOGE has lost 2.4 percent in the last 14 days, 13.6% in the last 30 days, and 72 percent in the last 1 year. It is currently changing hands at $0.0682.
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