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Large Investor Increases Dogecoin Holdings by 6.3 Million Coins

Thu, 12/09/2021 - 10:50
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Tomiwabold Olajide
A large Dogecoin investor has increased his or her holdings by about 6.3 million coins, according to Whalestats
Large Investor Increases Dogecoin Holdings by 6.3 Million Coins
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According to Whalestats, a large Dogecoin investor has increased his/her holdings by almost 6.3 million coins. The Dogecoin price continues trading sideways after dipping to lows of $0.122 during the Dec. 4 market bloodbath. Large investors, or whales, have been known to make good use of periods of price dips or macro consolidation to load up on their favorite tokens.

It is no different this time as investors sought to buy the latest dip. Data from the Crypto Whale Tracker at WhaleStats indicates that an anonymous buyer just purchased 6,369,751 DOGE, worth $1,114,337, as Dogecoin traded around the $0.17 level.

As reported by U.Today, Dogecoin celebrated its birthday on Dec. 6 as the coin marked eight years of existence. With an average of 60 million active addresses, as seen from IntoTheBlock data at press time, one might say Dogecoin has made a remarkable impact over the years.

At the peak of its euphoria, Dogecoin surged an eye-popping 17,000% in just four months in early 2021, following Elon Musk's social media activity. Although down by nearly 76% from its all-time highs of $0.731, Dogecoin remains up 5,427% yearly, according to CoinGecko data.

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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.