IntoTheBlock: Dogecoin Whales Move Over $654.7 Million Worth of DOGE in a Single Week
Dogecoin (DOGE) whales have transferred over $654.7m worth of DOGE in the past seven days alone, according to crypto analytics firm IntoTheBlock. This indicates a high level of whale trades, with transactions over $100,000. Meanwhile, 54% of DOGE holders are currently making money on their investments. However, DOGE is down more than 2.2% in the past 24 hours and over 9.4% in the past seven days, and is currently trading at $0.0738. DOGE is still 90% down from its all-time high of more than $0.731, which it hit in May 2021.
SHIB, DOGE’s top memecoin competitor, has seen $221.18m worth of transactions over $100,000 in the past week, according to IntoTheBlock. However, the analytics firm notes that SHIB’s holders are doing far worse on average than DOGE’s – only 31% are currently making money on their investments. SHIB is trading at $0.000011, and is down 2.45% in the past day and over 8.3% in the past week. SHIB remains up by 37.5% since the start of this year, but is still more than 87% down from its all-time high of $0.00008616, which it hit in October 2021.