Crypto Whales Suddenly Gobble Up $112,000,000 Worth of Dogecoin Amid Bearish DOGE Sentiment: Analyst
Release: 2024/06/03 08:14 Reading: 898
Crypto Whales Acquire Massive DOGE Holdings Amidst Bearish Sentiment
Crypto analyst Ali Martinez reports that prominent investors have swiftly acquired 700 million DOGE, amounting to $112 million, within just 72 hours.
According to data from Santiment, this surge in DOGE accumulation coincides with a significant decline in sentiment towards the memecoin, reaching levels unseen since early 2024.
"Dogecoin's market sentiment is as bearish as it was in early February, just before it soared by 200%!" Martinez noted.
Meanwhile, Dogecoin's rival, Shiba Inu (SHIB), has witnessed a substantial influx of funds into crypto exchanges, totaling over four trillion SHIB worth approximately $103 million. At the time of writing, SHIB trades at $0.000025.
Martinez also observed a surge in Ethereum (ETH) wallets holding significant amounts (over 10,000 ETH), indicating a shift towards accumulation rather than distribution. At the time of writing, ETH is valued at $3,790.
Source: https://thebittimes.com/crypto-whales-suddenly-gobble-up-112-000-000-worth-of-dogecoin-amid-bearish-doge-sentiment-analyst-tbt91006.html
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