{"id":568030,"date":"2024-01-04T14:30:09","date_gmt":"2024-01-04T14:30:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=568030"},"modified":"2024-01-04T12:59:03","modified_gmt":"2024-01-04T12:59:03","slug":"is-this-the-end-of-dogecoin-whales-dump-600-million-coins-as-price-crumbles","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/is-this-the-end-of-dogecoin-whales-dump-600-million-coins-as-price-crumbles\/","title":{"rendered":"Is This The End Of Dogecoin? Whales Dump 600 Million Coins As Price Crumbles"},"content":{"rendered":"

Adding to the woes of the cryptocurrency market, Dogecoin, the prominent memecoin with the highest market value, has experienced a notable setback with a over 10% drop in its price over the last 24 hours. This downturn follows a trend of significant declines witnessed by the dog-themed altcoin in the previous week.<\/p>\n

The current trajectory of DOGE’s price decline raises concerns among investors and market observers, as it points to potential challenges and uncertainties surrounding the memecoin’s stability.<\/p>\n

Related Reading: Vitalik Buterin Blessing Boosts ENS Price: Token Soars On \u2018Super Important\u2019 Label<\/a><\/div>\n

Whale Moves: Dogecoin Uncertainty Peaks<\/strong><\/h2>\n

Compounding this situation is the recent activity of large holders, colloquially referred to as “whales,” who have moved substantial amounts of Dogecoin \u2013 exceeding 600 million DOGE \u2013 to major trading platforms like Binance and Robinhood.<\/p>\n

\n

\ud83d\udea8 300,000,000 #DOGE<\/a> (24,629,096 USD) transferred from unknown wallet to #Binance<\/a>https:\/\/t.co\/M3WBb9bPOW<\/a><\/p>\n

\u2014 Whale Alert (@whale_alert) January 4, 2024<\/a><\/p><\/blockquote>\n

The transfer of such significant volumes by influential holders to popular trading platforms introduces an element of uncertainty in the market, with the potential to exacerbate the ongoing decline in Dogecoin’s value.<\/p>\n

Some 82 million and 102 million DOGE, or more than $15 million, came from two secret addresses to Robinhood at the start of the movement.<\/p>\n

DOGE currently trading at $0.0824541 territory. Chart: TradingView.com<\/a><\/pre>\n
A little while later, a reversal occurred when 151 million meme coins, or almost $12 million, went from Robinhood to an unidentified wallet.<\/p>\n
The culmination took place when the most substantial transfer, 300 million Dogecoin valued at $24 million, was transmitted from an unidentified location to Binance.<\/p>\n
At the time of publication on Thursday, the price of DOGE had dropped by 10%,<\/a> trading at $0.08. Furthermore, the coin’s value has decreased by roughly 12% over the past seven days. Furthermore, even with the early gains, the 30-day losses have now reached about 11%.<\/p>\n
\"\"DOGE 30-day price action. Source: Coingecko<\/a><\/pre>\n
DOGE Plunge: Market Drop, Trading Surge<\/strong><\/h2>\n
When Dogecoin dropped from $0.09 to its current price in less than two hours on Wednesday, the decline in value<\/a> grabbed traction. The market value of the meme coin fell by 9.95% to $11.77 billion as a result of this decline.<\/p>\n
Its trading volume increased significantly in the last day, rising 165% to a little over $1 billion, despite the price decline.<\/p>\n
Related Reading: SEI What? Token Rules Top 100 Listing With 80% Rally As Crypto Market Wobbles<\/a><\/div>\n
These sudden movement come at a pivotal moment for Dogecoin. The much-anticipated DOGE-1 mission, funded entirely by the Dogecoin community, is set to launch this winter.<\/p>\n
The CubeSat mission, developed by Geometric Energy Corporation, marks a historic step for the cryptocurrency, aiming to collect “lunar-spatial intelligence” with onboard sensors and a camera.<\/p>\n
\n
The National Telecommunications and Information Administration (@NTIAgov<\/a>), a Department of Commerce (@CommerceGov<\/a>) agency, approved DOGE-1 X-Band (0083-EX-CN-2022 on https:\/\/t.co\/b6iEAYdTPV<\/a>) \ud83d\udcdc<\/p>\n
We have yet to get the FCC license grant which will address X-Band and S-Band \ud83d\udef0$XI<\/a> pic.twitter.com\/YSJoyLclQk<\/a><\/p>\n
\u2014 S\u0394MU\u039eL R\u039eI\u00d0 (e\/acc) (@SamuelReidGEC) November 28, 2023<\/a><\/p><\/blockquote>\n
While the DOGE-1 mission brings a wave of excitement and publicity, the recent whale activity casts a shadow of uncertainty. The price drop sparked by the massive token transfers could be interpreted in multiple ways.<\/p>\n
Some see it as shrewd market maneuvering, capitalizing on a temporary dip. Others worry it may signal a loss of confidence in Dogecoin’s long-term potential.<\/p>\n
With the launch date approaching, the interplay between the whale activity, the DOGE-1 mission, and broader market trends will be crucial to watch.<\/p>\n
Can the launch generate enough positive momentum to counteract the price decline? Or will the whales’ actions continue to hold the currency hostage?<\/p>\n
Featured image from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Adding to the woes of the cryptocurrency market, Dogecoin, the prominent memecoin with the highest market value, has experienced a notable setback with a over 10% drop in its price over the last 24 hours. This downturn follows a trend of significant declines witnessed by the dog-themed altcoin in the previous week. The current trajectory of DOGE’s price decline raises concerns among investors and market observers, as it points to potential challenges and uncertainties surrounding the memecoin’s stability. Related Reading: Vitalik Buterin Blessing Boosts ENS Price: Token Soars On \u2018Super Important\u2019 Label Whale Moves: Dogecoin Uncertainty Peaks Compounding this situation is the recent activity of large holders, colloquially referred to as “whales,” who have moved substantial amounts of Dogecoin \u2013 exceeding 600 million DOGE \u2013 to major trading platforms like Binance and Robinhood. \ud83d\udea8 300,000,000 #DOGE (24,629,096 USD) transferred from unknown wallet to #Binancehttps:\/\/t.co\/M3WBb9bPOW \u2014 Whale Alert (@whale_alert) January 4, 2024 The transfer of such significant volumes by influential holders to popular trading platforms introduces an element of uncertainty in the market, with the potential to exacerbate the ongoing decline in Dogecoin’s value. Some 82 million and 102 million DOGE, or more than $15 million, came from two secret addresses to Robinhood at the start of the movement. DOGE currently trading at $0.0824541 territory. Chart: TradingView.com A little while later, a reversal occurred when 151 million meme coins, or almost $12 million, went from Robinhood to an unidentified wallet. The culmination took place when the most substantial transfer, 300 million Dogecoin valued at $24 million, was transmitted from an unidentified location to Binance. At the time of publication on Thursday, the price of DOGE had dropped by 10%, trading at $0.08. Furthermore, the coin’s value has decreased by roughly 12% over the past seven days. Furthermore, even with the early gains, the 30-day losses have now reached about 11%. DOGE 30-day price action. Source: Coingecko DOGE Plunge: Market Drop, Trading Surge When Dogecoin dropped from $0.09 to its current price in less than two hours on Wednesday, the decline in value grabbed traction. The market value of the meme coin fell by 9.95% to $11.77 billion as a result of this decline. Its trading volume increased significantly in the last day, rising 165% to a little over $1 billion, despite the price decline. Related Reading: SEI What? Token Rules Top 100 Listing With 80% Rally As Crypto Market Wobbles These sudden movement come at a pivotal moment for Dogecoin. The much-anticipated DOGE-1 mission, funded entirely by the Dogecoin community, is set to launch this winter. The CubeSat mission, developed by Geometric Energy Corporation, marks a historic step for the cryptocurrency, aiming to collect “lunar-spatial intelligence” with onboard sensors and a camera. The National Telecommunications and Information Administration (@NTIAgov), a Department of Commerce (@CommerceGov) agency, approved DOGE-1 X-Band (0083-EX-CN-2022 on https:\/\/t.co\/b6iEAYdTPV) \ud83d\udcdc We have yet to get the FCC license grant which will address X-Band and S-Band \ud83d\udef0$XI pic.twitter.com\/YSJoyLclQk \u2014 S\u0394MU\u039eL R\u039eI\u00d0 (e\/acc) (@SamuelReidGEC) November 28, 2023 While the DOGE-1 mission brings a wave of excitement and publicity, the recent whale activity casts a shadow of uncertainty. The price drop sparked by the massive token transfers could be interpreted in multiple ways. Some see it as shrewd market maneuvering, capitalizing on a temporary dip. Others worry it may signal a loss of confidence in Dogecoin’s long-term potential. With the launch date approaching, the interplay between the whale activity, the DOGE-1 mission, and broader market trends will be crucial to watch. Can the launch generate enough positive momentum to counteract the price decline? Or will the whales’ actions continue to hold the currency hostage? Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":568069,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,1785,85675,7,85699],"class_list":["post-568030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-doge","tag-doge-price","tag-dogecoin","tag-memecoin"],"acf":[],"yoast_head":"\nIs This The End Of Dogecoin? 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is This The End Of Dogecoin? 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