HomeAltcoinDogecoin Whales Transfer Over $654,700,000 in DOGE in Just One Week: IntoTheBlock

Dogecoin Whales Transfer Over $654,700,000 in DOGE in Just One Week: IntoTheBlock


Dogecoin (DOGE) whales transferred more than $654.7 million worth of DOGE in the past seven days alone, according to cryptanalysis firm IntoTheBlock.

IntoTheBlock notes that $654.78 million worth of DOGE was transferred in transactions over $100,000, indicating the whale trade.

The firm also notes that 54% of Dogecoin holders are currently making money from their DOGE investments.

DOGE is trading at $0.0738 at the time of writing. The 10th-ranked crypto asset by market capitalization is down more than 2.2% in the past 24 hours and more than 9.4% in the seven days.

Dogecoin is still up around 5% since early 2023, but it is still almost 90% below its all-time high of over $0.731, which it hit in May 2021.

Shiba Inu (SHIB), DOGE’s main memecoin competitor, witnessed $221.18 million worth of transactions in the past week topping $100,000, according to IntoTheBlock.

The analytics firm notes that, on average, SHIB holders are doing much worse than DOGE holders: only 31% are making money on their investments.

Shiba Inu is trading at $0.000011 at the time of writing. The 15th-ranked crypto asset by market capitalization was down 2.45% the day before and more than 8.3% last week.

SHIB is still up 37.5% since the beginning of this year, but is still more than 87% below its all-time high of $0.00008616, which it hit in October 2021.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

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