Dogecoin is grabbing headlines and speculation from its wide community of investors after a recent whale accumulation from a crypto exchange. On-chain data shows an accumulation trend from this whale, with the latest being the acquisition of 300 million DOGE tokens worth $45 million at the current market price.
These speculations have led to theories on who the whale buyer might be amidst a continued price decline for Dogecoin, with the most prominent hypothesis being billionaire Elon Musk.
Whale Accumulating Dogecoin
Dogecoin is currently on an extended price decline, with its price now down by 25.8% in the past seven days. However, on-chain data shows that a particular whale has been buying the dip, which is a testament to their strong belief in the cryptocurrency.
Whale Alerts, a crypto whale transaction tracker, noted a DOGE accumulation from crypto exchange Robinhood into the private wallet “DDuXGM” amidst a flurry of other whale transactions in other cryptocurren
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