Dogecoin Undergoes Huge Transactions; Tweets Whale Alert

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• Whale Alert tweeted that 300,000,000 DOGE coins were transferred from an unknown wallet to another wallet.
• The DOGE coins transacted recently are worth $26,515,678.
• Over the last 24 hours, the coin underwent huge losses, with the current price indicating a 20% loss.

The blockchain tracker Whale Alert tweeted that 300,000,000 Dogecoins worth $26,515,678 were transferred from an unknown wallet to another unknown wallet.

An analysis of the activities of Dogecoin over the last 24 hours indicates that the platform had undergone huge losses regarding the innumerable transactions taking place. Notably, the current price of Doge, $0.0883, suggests that the coin has a loss of 20%.

One Week’s Doge Price Source: CoinMarketCap

In the previous week, it had been tweeted by DogeWhaleAlert that almost 399 transactions of 4 million coins had taken place during the last week. In detail, 7,949,363,850 coins worth $1,075,685,131 were transacted, with a transfer fee of $114.

Though Dogecoin witnessed heavy losses, it still takes a higher position with a 30.8% hike, over the past 30 days. Also, the day-to-day trading volume of the coin had a steady positive inclination as the average trade of the token increased.

Significantly, Dogecoin had a reasonable hike in October, with its coin trading at a rate of nearly $0.07 towards the end of the month. After five days, the price again had a rise to $0.16. However, since the beginning of November, the coin has seen a continuous fall in price.

Interestingly, several instances could be connected to both the loss and hike in the price of the coin. Previously, when the CEO of Tesla (NASDAQ:TSLA) Elon Musk, completed his $44 million Twitter deal, Dogecoin showed a rise in its price.

Similarly, Musk’s comments about the use of Doge coins for payment in different areas also helped increase the price of the coin. But, in contrast, when Musk referred to the coin as a “hustle”, Doge suddenly underwent plummets.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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