{"id":290209,"date":"2024-04-26T10:29:02","date_gmt":"2024-04-26T04:59:02","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=290209"},"modified":"2024-04-26T10:29:02","modified_gmt":"2024-04-26T04:59:02","slug":"whales-move-456-mln-doge-to-coinbase-price-at-risk-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/whales-move-456-mln-doge-to-coinbase-price-at-risk-crypto-news\/","title":{"rendered":"Whales Move 456 Mln DOGE To Coinbase, Price At Risk? – Crypto News"},"content":{"rendered":"

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Dogecoin nabbed significant attention across the global crypto realm again as phenomenal whale activity surrounded the token amidst its current price flux. Per blockchain data surfacing within the crypto market, roughly 456 million DOGE was moved to Coinbase today, birthing a sense of caution among DOGE traders and investors.<\/span><\/p>\n

The transfer of DOGE to Coinbase reflected a substantial offloading chronicle of Dogecoin by whales, which has in turn sparked speculations about a potential loss of interest in the asset among these large-scale investors. This event has raised serious concerns about the trajectory of DOGE\u2019s price in the future, with on-chain data painting an uncertain picture for the token\u2019s upcoming journey.\u00a0<\/span><\/p>\n

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Let\u2019s examine Dogecoin\u2019s current market dynamics and what it suggests about the price action of the world\u2019s most popular dog-based meme crypto.<\/span><\/p>\n

Dogecoin Whale Transactions Ignite Bearish Sentiments\u00a0<\/span><\/h2>\n

Notably, data from Whale Alert, a blockchain tracking platform, unveiled two massive DOGE whale transactions today, April 26, collectively attributing to the transfer of 456.82 million DOGE to a CEX<\/a>. Both the transactions illustrated DOGE tokens transferred to Coinbase, a globally renowned cryptocurrency exchange.<\/span><\/p>\n

The first transaction showcased 228.10 million DOGE, worth $34.34 million, shifted by an unknown whale to Coinbase. Similarly, the second transaction revealed 228.72 million DOGE, worth $34.43 million, shifted by another unknown whale to the same exchange. These whale transactions rode a couple of bearish market sentiments as the token\u2019s supply on exchanges spiked, whereas whales illustrated a loss of confidence in the asset.<\/span><\/p>\n

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However, despite the highly volatile movement over the past day, DOGE managed to trade in the green at press time, a stark contrast to the market\u2019s bearish stance that aligns with today\u2019s whale transactions.<\/span><\/p>\n

Also Read: Who Is Sarah Netburn? Industry Execs Hail Nomination To District Court<\/a><\/strong><\/p>\n

DOGE Price Jumps, What\u2019s Next?<\/span><\/h2>\n

As of writing, the Dogecoin price<\/a> has jumped slightly by 0.36% in the past 24 hours and is currently trading at $0.1501. The token\u2019s slight jump in price trajectory appears to be garnering significant attention among crypto market traders and investors, as it contrasts usual market sentiments and on-chain data.\u00a0<\/span><\/p>\n

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Coinglass spotlighted a 35.04% decrease in the token\u2019s derivatives volume, accompanied by an open interest slip of 0.02%. This hinted at a significant reduction in the token\u2019s market activity, with investors further closing their DOGE positions<\/a>.\u00a0<\/span><\/p>\n

When coupled with the massive dumps mentioned above, the derivatives data flags a bearish market sentiment for Dogecoin, with investors expecting a bearish movement for the token in the short term. However, a tidal wave of optimism surrounding the token\u2019s price trajectory in the long run persists, as DOGE<\/a> is expected to mimic Bitcoin\u2019s parabolic uptrend post-halving.\u00a0<\/span><\/p>\n

Also Read: Bharat Web3 Association Suggests Action Plan to Empower the Web3 Sector<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Dogecoin nabbed significant attention across the global crypto realm again as phenomenal whale activity surrounded the token amidst its current price flux. Per blockchain data surfacing within the crypto market, roughly 456 million DOGE was moved to Coinbase today, birthing a sense of caution among DOGE traders and investors. The transfer of DOGE to Coinbase […]<\/p>\n","protected":false},"author":2,"featured_media":273862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-290209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=290209"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290209\/revisions"}],"predecessor-version":[{"id":290211,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/290209\/revisions\/290211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/273862"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=290209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=290209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=290209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}