With its acceptance as a payment option growing, thanks to meager transaction fees and constant endorsement by billionaire Elon Musk, Dogecoin (DOGE) is no longer just a meme fodder.
The top dog meme coin, DOGE, has been witnessing significant whale activity recently, leading some to speculate about the intentions of the entities behind these transactions.
Whales Trigger Speculation With DOGE Transfers
Within the last 24 hours, a substantial transfer of DOGE has been detected by the crypto tracking platform Whale Alert. On Monday, Whale Alert reported a transfer of over 85 million DOGE, worth approximately $7.6 million, from an undisclosed wallet to Robinhood, a digital asset exchange.
According to data from Whale Alert, another unknown wallet, “DGK…CUd” moved more than 57 million DOGE, worth roughly $5.1 million, to Robinhood the same day. The move signals an uptick in the token’s total supply, sparking speculation about its potential impact on DOGE price.
One enigmatic Dogeco

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