Dogecoin has extended its decline today as on-chain data shows the whales have been actively making large moves in the past day.
Dogecoin Whales Have Made Several Large Movements In The Last 24 Hours
According to data from the cryptocurrency transaction tracker service Whale Alert, many massive transactions have occurred on the Dogecoin blockchain during the past day.
There were 13 large DOGE transactions in the past 24 hours, which can all be organized into two batches. The first batch saw six transfers on the network worth 3,758,651,596 DOGE ($227.7 million at the current exchange rate).
These transactions have been put into the same batch because they all occurred close to each other, with some even taking place simultaneously.
Based on this coincidence, one may suspect that the same whale or the same group of whales may have been behind the transfer. The blockchain data would seemingly confirm this, as these transfers involved the same sending and receiving addresses.
Below are the
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