Binance has shoveled several hundred billion DOGE after coin’s trading volume surged 671%
Binance transferred more than 400 million Dogecoin (DOGE) around internal wallets in the last 24 hours, according to @DogeWhaleAlert.
The two massive transactions transported 301,667,311 DOGE and 100,906,386 DOGE worth $29,677,728 and $9,927,069, respectively.
301,667,311 $DOGE ($29,677,728 USD) was transferred from a #Binance wallet to a #Binance wallet.
Fee: 2.41 ($0.24 USD)
Tx: https://t.co/OnpOCVsW9A#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
— Ðogecoin Whale Alert (@DogeWhaleAlert) April 4, 2023
This was most likely due to dispersing cash amongst the exchange’s local wallets. Following yesterday’s news involving Elon Musk, Twitter, and Dogecoin, the latter’s price increased by 30% in one hour and is presently trading at $0.01009, according to CoinMarketCap.
The meme coin’s market cap climbed by about 29%, reaching $13,972,987,874, and DOGE trade volume increased by 671%, reaching $5,125,163,854 in the last 24 hours.
Aside from Dogecoin, CoinGecko says that all Doge-related meme coins are increasing in value today. On April 3, Twitter’s typical logo of a bluebird was replaced with a Dogecoin logo. This significantly increased the price of the meme currency, adding more than 30% in total, as AZCoin News reported.
The joke coin is trading more than 86% below its all-time high of $0.7376, which was hit in May 2021 after Elon Musk promoted DOGE on Saturday Night Live.
Following the price increase, many whales began to sell, taking profits off the table. Whale Alert discovered transfers of 650 million and 300 million Dogecoin today. The fifth-highest DOGE holder presumably created the first as he relocated his meme coins to be sold.
The latest dog runs
Pull up a doge or shib or floki chart and you’ll see what I mean.https://t.co/tLphpcygqo
— Alex Krüger (@krugermacro) April 4, 2023
Alex Kruger, a well-known economist and trader, recently tweeted that he believes the market is preparing for a “big dog run” that could occur later this year. He proposed checking back in May and November 2021, just after SHIB reached an all-time high. SHIB and SOV are his meme token bets.
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