The number of Whales activities in Dogecoin transactions started to increase and hinting toward a new bullish metric for Dogecoin.
Dogecoin is a popular meme coin, which was launched in 2013 as a real coin based on Proof-of-work Consensus with an unlimited Dogecoin supply. In 2020-2021 Dogecoin grabbed huge popularity in the whole world because of the support of Tesla CEO Elon Musk. This coin is currently standing at 12th rank by 24 hours trade volume globally.
The current price of Dogecoin is $0.145 and this price is 19% high over the last 7 days.
Recently Elon Musk responded to an idea to acquire a popular social media platform Twitter and replace the bird logo by Dogecoin logo.
From October 2021 to February, Dogecoin showed a continuous downfall in the prices but now the situation is changing because of the activities of whales and positive situations in the market.
On 28 March, available data from “IntoTheBlock” noted that a 133% increase in the whale’s transactions took place in Dogecoin over 27 March, which was a big indication for the Dogecoin traders.
However today the 133% figure changed to 18% but it is enough to show that something big is going to take place.
Here we should not forget that Dogecoin is currently in the hands of almost every person in this industry and it is hinting that the majority of Dogecoin is in equal distribution in the industry.
At present, Robinhood crypto and stock exchange is holding $6 billion worth of Dogecoin on behalf of its customers.
Even Tesla CEO also holding Dogecoin alongside Bitcoin and Ethereum.
Beside all these positive factors, Dogecoin project needed something new announcement or plan by its newly established team or at least Elon Musk should tweet something new for Dogecoin.
However last time he tried to promote and push the adoption in payment system at McDonald fast food network but failed.
Don’t miss a thing, sign up for our newsletter