An altcoin that has rallied 50% since last week is witnessing a hundred million whale transactions. Could this be a sell sign? Here are the details…
Altcoin whales pile millions on Binance
Four hours ago, an anonymous whale moved a hundred million DOGE to Binance, according to a new tweet from whale tracker DogeWhaleAlert. These transfers included 286,953,266 and 114,010,343 DOGEs. In total, 400.1 million Dogecoins moved.
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286,953,266 $DOGE ($22,140,740 USD) was transferred from a #Top20 wallet to a #Binance wallet.
Fee: 2.41 ($0.19 USD)
Tx: https://t.co/sJzxNZHZLi#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
— Ðogecoin Whale Alert (@DogeWhaleAlert) October 28, 2022
On October 27, Elon Musk’s Twitter buyout deal set Dogecoin’s price in motion. Musk confirmed the news soon after and tweeted about why he bought the platform. In the midst of all these developments, Dogecoin price is rallying. In particular, it was remarkable that it has gained around 50% since last week. cryptocoin.comAs you follow, the market recovery and the rumors about Twitter’s crypto wallet have left their mark on the DOGE chart as follows.
Elon Musk and Twitter news spark altcoin whales
When the fact that Musk had bought Twitter was officially confirmed by the mainstream media, DOGE began a sharp rally. However, earlier today, the yen continued to find buyers. It printed a large green candle on the hourly and daily chart. This price action was followed by the increasing appetite of whales for Dogecoin. Dogecoin Whale Alert reports that in the technical transaction, an anonymous whale has piled $8.7 million worth of DOGE onto Binance. Interestingly, the whale only paid a $0.16 fee for this transaction.
🐕🪙🐋🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨
114,010,343 $DOGE ($8,796,810 USD) was transferred from a #Top20 wallet to a #Binance wallet.
Fee: 2.03 ($0.16 USD)
Tx: https://t.co/Fv4KkgkAat#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
— Ðogecoin Whale Alert (@DogeWhaleAlert) October 28, 2022
Elon Musk drives DOGE adoption
Recently, Musk launched an entirely new product for himself. This was surprisingly a perfume named “Burnt Hair”. It currently retails for $104. The perfume was developed by Musk’s The Boring Company. Now, thanks to the partnership with BitPay, users have been able to purchase this perfume with Dogecoin, Shiba Inu, Bitcoin and other cryptos. Additionally, at the beginning of the year, Tesla began selling its products with DOGE. SpaceX followed in the spring.
