Dogecoin Whales Scoops Over 500M DOGE, Price To Rally Over $0.1 Again?

Dogecoin Whales Scoops Over 500M DOGE, Price To Rally Over $0.1 Again?

Altcoins

The largest Dogecoin whale has moved over 165 million DOGE tokens this weekend. Several whales scooped large amounts of DOGE tokens as sentiment turned positive due to zero-fee trading platform Robinhood announcing Dogecoin support for its recently released wallet. As a result, the Dogecoin (DOGE) price jumps 5% to hit a day of $0.0928 on Monday.

Dogecoin Whales Move Over 500 Million DOGE Tokens

According to Dogecoin Whale Alert, whales have scooped over 500 million Dogecoin in the last two days. The largest holder of Dogecoin (DOGE) tokens also participated in the whale accumulation and scooped nearly 165 million DOGE tokens.

Another top 20 whale moved 150 million DOGE tokens worth over $13 million in the last 24 hours. The move comes after Robinhood announced Dogecoin support for its recently launched self-custody “Robinhood Wallet” app. After the initial rollout to 10,000 users in September, Robinhood will provide the wallet to over a million waitlisted users.

Wallet addresses linked to Robinhood have the largest holding of DOGE tokens. Robinhood wallet “DPDLBA” is the largest holder of Dogecoin, with almost 25.21% of the total supply. The wallet address holds 34.76 billion DOGE worth $3.1 billion. The second-largest holder of Dogecoin holds 7.08 billion DOGE, which is 5.14% of the total supply. Thus, there is a huge difference between the two largest holders.

WhaleStats reported that Dogecoin is top 10 purchased tokens among the 100 biggest BSC whales in the last 24 hours. Moreover, Dogecoin whale accumulation was also reported among the top 500 biggest BSC whales.

DOGE Price Jumps 5%

Dogecoin (DOGE) price rallied nearly 5% in the last 24 hours, with the price currently trading at $0.0898. The 24-hour low and high are $0.0853 and $0.0928, respectively. Furthermore, the trading volume has increased by over 100% in the last 24 hours, indicating an increase in interest.

The social sentiment and technical indicators point to a slight upside move to $0.095 in the next few days. However, a large upside move over $0.1 is difficult under the current market conditions.

Also Read: ETH Staking Jumps ATH Ahead Of Shanghai Upgrade

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