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Dogecoin (DOGE) Sees Massive Transfers as Price Spikes 5%

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Wed, 6/12/2023 - 19:48
Dogecoin (DOGE) Sees Massive Transfers as Price Spikes 5%
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Dogecoin (DOGE), the meme-inspired digital asset, has seen some heightened whale activity.   

Earlier this Wednesday, 64.7 million DOGE, equivalent to around $6.2 million, was transferred to Coinbase from an unidentified wallet. 

In another major transaction, 72.6 million DOGE, valued at approximately $7.1 million, moved from Robinhood to an unknown destination. 

Dogecoin's 10th anniversary 

These substantial transfers coincide with Dogecoin's 10th anniversary on Dec. 6, a decade since its initial launch in 2013.

Dogecoin's evolution from a light-hearted meme to a significant player in the cryptocurrency market is a journey worth noting. Originally developed as a playful alternative to more serious digital currencies, Dogecoin has since gained a substantial user base and widespread recognition. 

Related
Market Enters 'Extreme Greed' as Bitcoin (BTC) Dominance Expands

The coin's 10th anniversary not only marks its longevity but also stresses its unique position in the digital currency landscape.

Leading the pack 

Amidst a volatile crypto market, Dogecoin has shown remarkable performance, outshining other top 10 cryptocurrencies in recent trends. 

According to data provided by CoinGecko, the leading meme coin is up more than 5% over the past 24 hours.   

This surge places DOGE allows the meme coin to stand among among its counterparts like Bitcoin, which is up only a mere 0.8% after a stunning rally.  

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