{"id":518131,"date":"2023-01-31T15:43:56","date_gmt":"2023-01-31T15:43:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=518131"},"modified":"2023-01-31T15:43:56","modified_gmt":"2023-01-31T15:43:56","slug":"dogecoin-whales-move-large-bearish-doge","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-whales-move-large-bearish-doge\/","title":{"rendered":"Dogecoin Whales Move Large Amounts, Bearish For DOGE?"},"content":{"rendered":"

Data shows Dogecoin whales have made some large moves over the past day. What does this mean for the meme coin’s price?<\/p>\n

Dogecoin Whales Have Made Multiple Large Transactions Today<\/h2>\n

A few transactions involving a huge amount of DOGE have been spotted on the blockchain in the past day. As per data from the crypto transaction tracker service Whale Alert<\/a>, the first of these transfers involved the movement of 450,000,000 DOGE, worth more than $40 million at the time of the transaction.<\/p>\n

As the scale of this transfer is quite large, the sender is likely to be a whale<\/a>. Transactions from these humongous holders are generally the ones to watch for, since they can sometimes cause noticeable ripples on the market. Naturally, these transfers can both be bullish or bearish, depending on what the whale intended to do with the move.<\/p>\n

Here are some additional details regarding this Dogecoin whale transfer, which may have hints about the purpose behind it:<\/p>\n

\"Dogecoin<\/p>\n

Looks like this massive transfer only costed the sender a fee of $0.09 | Source: Whale Alert<\/a><\/pre>\n
As can be seen above, both the sending and receiving addresses for this Dogecoin whale transaction were unknown addresses. “Unknown” here means that these addresses aren’t connected to any known centralized platform. So, usually, such addresses belong to personal investor wallets.<\/p>\n
Since there isn’t any platform involved here, it’s hard to say exactly why the whale made this transfer. The holder may have been selling through an over-the-counter (OTC) deal, in which case the move could have bearish effects on the price of the meme coin.<\/p>\n
Related Reading: This Level Could Be Crucial For Bitcoin, PoW Pricing Model Suggests<\/a><\/div>\n
However, it’s also possible that both the addresses here were owned by the same whale, and that they were simply restructuring their holdings across these addresses. If this scenario would be true, then Dogecoin shouldn’t feel any impact from this transaction.<\/p>\n
According to another tracker, Dogecoin Whale Alert, there have also been two other whale transfers today. And unlike the above transaction, these moves did involve centralized platforms.<\/p>\n
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\ud83d\udc15\ud83e\ude99\ud83d\udc0b\ud83d\udea8\ud83d\udea8\ud83d\udea8\ud83d\udea8\ud83d\udea8\ud83d\udea8\ud83d\udea8\ud83d\udea8\ud83d\udea8\ud83d\udea8<\/p>\n
352,422,225 $DOGE<\/a> ($32,672,007 USD) was transferred from a #Top20<\/a> wallet to a #Binance<\/a> wallet.<\/p>\n
Fee: 2.41 ($0.22 USD)<\/p>\n
Tx: https:\/\/t.co\/9j5AiXlXF6<\/a>#DogecoinWhaleAlert<\/a> #WhaleAlert<\/a> #Dogecoin<\/a> #CryptoNews<\/a><\/p>\n
— \u00d0ogecoin Whale Alert (@DogeWhaleAlert) January 31, 2023<\/a><\/p><\/blockquote>\n