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Title: 50.8% of Dogecoin Supply Now in Profit; Whales Dump 1.32 Billion DOGE
A significant update has emerged regarding the cryptocurrency market, specifically in regards to Dogecoin (DOGE). According to Santiment, a prominent blockchain tracker, roughly 50.8% of the total Dogecoin supply is currently in profit, which is an astonishing feat considering the recent downward trend experienced by the coin.
Notably, this percentage surpasses that of other top-ten cryptocurrencies – XRP and TRX with 81.6% and 84.6%, respectively. This substantial shift highlights a potential change in sentiment among cryptocurrency whales, as their DOGE holdings have been reduced by an astonishing 1.32 billion units.
Moreover, a further report suggests that Whale Alert discovered a massive 300 million DOGE transfer to Binance from an anonymous wallet. This move raises concerns about the likelihood of this whale selling more of its vast Dogecoin stash, potentially affecting the current market price.
This sudden influx in sales by whales has led many experts and analysts to reevaluate their long-term investment strategies, particularly with respect to the cryptocurrency’s highly volatile nature.
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Source: https://u.today/1320000000-doge-in-48-hours-whats-happening
