The leading Japanese guard dog themed memecurrency Dogecoin (DOGE) experienced a major influx of new whales on the Binance Smart Chain (BSC) today, as the headlines are mainly focused on the infamous Sam Bankman-Fried’s arrest in the Bahamas. The corrupt founder of FTX sparked rumors around Crypto Twitter, which led to bullish signals for Bankman-Fried’s arch nemesis, the largest crypto exchange Binance and its CEO CZ.
Thus, the TOP 4,000 Whales on BSC took an interest in DOGE at around $0.087. The weekly price plunge of 11.7% for DOGE served as a wake-up call to the BSC Whales, as DOGE entered the TOP 10 most accumulated crypto assets, along with the blockchain’s native BNB (BNB).
JUST IN: $STI @SeekTiger one of the MOST USED smart contracts among top 4000 #BSC whales in the last 24hrs🐳
— WhaleStats - the top 1000 BSC richlist (@WhaleStatsBSC) December 12, 2022
We've also got $DOGE, $GYMNET, $DOME & $BNB on the list 👀
Whale leaderboard: https://t.co/CnPsLVmRmh#STI #whalestats #babywhale #BBW pic.twitter.com/ysbj4eq0x6
DOGE’s Star Shines Bright on Coinbase
Over 38 transactions worth $1 million in hours indicate heavy crypto investors choose the canine coin for a long-term investment. However, the largest transactions seen today tower above, as four of them, each worth around $14.5 million, were made in Coinbase-related transfers. Totaling a colossal $58 million, the funds were sent to a Coinbase Pro wallet.
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At press time, $14.5 million is worth 170430757 DOGE. Furthermore, Coinbase users are eying DOGE for the price below the key resistance level of $0.09, as seen in the 24-hour trading stats.
Crypto enthusiasts on Coinbase pressed DOGE’s accelerator and opened the throttle, as the buying sentiment is at 93%, compared to the 7% that choose to sell their memecurrency assets. Besides, Twitter 2.0, with CEO Elon Musk contemplating on Tesla Phone and Crypto Twitter Wallet, heavily contributed to the intense buying spree.
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The 8th-ranked, second-largest Proof of Work (PoW) blockchain, is enjoying more social mentions than ever.
🚨🚨🚨🚨🚨🚨 $53 Milyon değerinde #Dogecoin 4 ayrı cüzdandan aynı anda hareket ederek Coinbase Pro cüzdanına gönderildi.
— anıl 💥 (@anlcnc1) December 12, 2022
'' Doge'ler 2021 yılında Coinbase listelemesiyle 4 ayrı cüzdana bölünmüş. Çok muhtemel Coinbase'ye ait.
*Eylül'den sonra cüzdanlara Doge hiç eklenmemiş. '' pic.twitter.com/xTIq2s0nqk
DOGE’s Rebound Efforts
At press time, Elon Musk’s beloved DOGE is changing hands at $0.090092, according to CoinGecko. The 1.2% spike since the BSC Whale transactions gave more confidence to crypto analysts and the light-hearted DOGE Army. For instance, YouTuber, crypto investor, and technical analyst Myles G investments didn’t even bother with charts and said: “#dogecoin is about to pop this week. Thank me later.”
#dogecoin is about to pop this week.
— Myles G Investments (@MylesGinvest) December 12, 2022
Thank me later.
On the Flipside
- The top dog memecoin lost an eye-watering $1.5bn to the crypto bears since last week.
- In the last seven days, Dogecoin’s (DOGE) total market capitalization went from $13.85bn to $12.35bn.
Why You Should Care
Whale activity often suggests the level of trust the largest investors have in the asset.
Dig deeper into the mercurial world of memecoins:
Dogecoin (DOGE) Under Attack by Jim Cramer, Crypto Twitter Strikes Back
Shiba Inu (SHIB) Contested by Baby Doge Coin (BABYDOGE) – Here’s How
