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DOGE Whales Add Billions to Their Bags Quick – Here's What They May Be Hoping For

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Mon, 24/07/2023 - 15:32
DOGE Whales Add Billions to Their Bags Quick – Here's What They May Be Hoping For
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Crypto analyst and trader Ali Martinez has taken to Twitter (or, as it is now called, the "X app") to share some data about whales accumulating tremendous amounts of the original meme coin, DOGE.

Over the past few weeks, these wallet owners have massively increased their meme coin holdings, his tweet states.

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Whales scooping up billions of DOGE

Ali shared an IntoTheBlock chart showing that, over the past three weeks, DOGE whales of various capacities have laid their hands on three billion Dogecoin in total. That is worth $225 million.

The acquisition started on July 3, according to the screenshot of the chart.

Meme coins kick off as week starts: DOGE, SHIB

Earlier today, Santiment reported that today has been a good start for meme coins like SHIB, DOGE and APE. Shiba Inu saw a brief surge of 2.63% followed by a dump of 4.16%.

DOGE soared by more than 8%, later on losing 5% and then again rising by 3.77%. APE went up by 3%, then fell back by 3.5%.

The reason cited by Santiment for those rises, especially DOGE, was the high spikes of social media sentiment. "DOGE excitement is heating up," the tweet stated.

Elon Musk changes Twitter name to "X"

Tech tycoon and owner of Twitter Elon Musk has started rebranding Twitter to the "X" app — something he has been talking about for a long time, saying that he intends, among other things, to add job hunting, dating and payment functions to it, to turn Twitter from a microblogging platform into "an everything app."

He has already changed the logo of the platform from the famous blue bird to the letter "X". This fact has greatly excited the XRP community.

He has already implemented a greater volume of texts and videos to be published, along with subscriptions. The latter allows content creators to charge their subscribers a certain amount of regular monthly fees. For the first year of this feature, according to Musk, Twitter (now "X" app) will not take anything. It will start to charge a small percentage in the years to come.

Even before acquiring Twitter for $44 billion in October last year, Musk suggested to the management that DOGE should be introduced as a payment option for Twitter Blue.

Many times, he expressed admiration for the original meme cryptocurrency and dropped hints about his plans to integrate DOGE on Twitter. Now, as Musk began to rebrand the app into "X," the crypto community has all eyes on that process to see if Dogecoin will be integrated after all.

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