Whale Buys 1 Bln Dogecoin From Binance, Is $0.1 Next?

Dogecoin, one of the most popular meme coins, curated a frenzy within the market as it noted significant whale activity today.

Dogecoin, one of the most popular meme coins within the cryptocurrency realm, gained significant traction today as the token recorded a colossal whale transfer amid today’s price drop. Aligning with this, on-chain data illuminated the transfer of roughly 1 billion DOGE within the broader crypto market today, fueling speculations among crypto market fanatics for the token.

Meanwhile, the transfer of DOGE encompassed the shifting of coins from a CEX to an unknown wallet, propelling optimism for the token.

A Closer Look Into Today’s DOGE Whale Chronicle
According to the data unveiled by Whale Alert, a platform streamlining blockchain metrics, the colossal whale transaction occurred today, December 26. Moreover, concerning the data, a whale seems to have transferred 999.99 million DOGE from Binance to two unknown wallet addresses, DU8gPC5mh4…rk2jAguBr5 and DQnhnNxW89…DvtzwF9sGo.

Meanwhile, the number of coins transferred collectively amounted to $91.19 million while writing.

However, the whale transaction showcased a potential decrease in the token’s circulation supply, fueling further inferences for the meme coin. Notably, as the data surfaced over the crypto horizon amid a price drop, crypto traders and investors seem to be eyeing the token extensively.

As of writing, the DOGE price chart illustrated a downward trajectory, falling 0.62% over the past 24 hours, and is currently trading at $0.09307. In addition, this fall was further accompanied by a weekly plunge of 0.30%.

Intriguingly, the token’s market cap also reflects the price drop noted by DOGE , illustrating a marginal drop of 0.63% and is currently evaluated as $13.17 billion. However, the 24-hour trading volume appears to have risen substantially, showcasing a 7.54% surge over the past day.

With the whale chronicle positioning itself amid a price drop, market sentiments orbiting DOGE seem to have taken an exciting turn. Crypto market enthusiasts appear to have bolstered their confidence in DOGE , as whale activity mirrored a potential reduction in the token’s supply.