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Dogecoin Returns Among Top Purchased Tokens by Whales; Here's How Much They Own

Tue, 02/08/2022 - 14:38
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Tomiwabold Olajide
Dogecoin returns as one of most purchased tokens among whales; here's how much they own
Dogecoin Returns Among Top Purchased Tokens by Whales; Here's How Much They Own
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According to WhaleStats data, Dogecoin has made a comeback among the top 10 purchased tokens by BSC whales. This comes after a top BNB whale purchased a whopping 8.9 million Dogecoin.

WhaleStats has reported that, in recent hours, a BNB whale ranking 75th among the largest 1,000 BNB whales it tracks bought 8.9 million Dogecoin, or $1,471,326 worth.

Top Ten Purchased Tokens, Courtesy: WhaleStats

On Feb. 7, the blockchain data tracker reported that Dogecoin holders had reached a count of 530,205, while the top 1,000 BNB wallets held 324,257,667 DOGE, or $50,798,116 worth. At the time of publication, the count of Dogecoin holders stands at 533,914, while the top 1,000 BNB whales are holding 324,355,501 DOGE, or $51,276,356 worth, demonstrating an increase in barely 24 hours.

Dogecoin price action

Dogecoin has been on a steady decline since reaching an ATH of $0.76 in May 2021, setting lower highs since then. On Oct. 28, DOGE briefly touched the $0.339 level but has since returned to trade beneath the $0.21 high reached on Jan. 14.

The Dogecoin price received a positive boost in the past from Tesla CEO Elon Musk, who believes that Robinhood wallets would be a huge deal for Dogecoin since the top meme cryptocurrency will no longer be viewed as simply a speculative investment by Robinhood users.

In late January, Robinhood began beta testing its wallets, allowing some of its waitlist members to withdraw funds to their wallets.

Tesla began accepting the meme coin for some of its merchandise by the end of 2021, a feat that Bitcoin had yet to attain. Early in 2021, the e-car behemoth began accepting Bitcoin as payment for cars but rapidly changed course due to environmental concerns over the proof-of-work (PoW) mining process.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.