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Home»ALTCOIN NEWS»Crypto Whale Suddenly Gobbles Up $112 Million Worth of Dogecoin Amid Bearish DOGE Mood: Analyst
ALTCOIN NEWS

Crypto Whale Suddenly Gobbles Up $112 Million Worth of Dogecoin Amid Bearish DOGE Mood: Analyst

By Crypto FlexsJune 3, 20242 Mins Read
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Crypto Whale Suddenly Gobbles Up 2 Million Worth of Dogecoin Amid Bearish DOGE Mood: Analyst
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One cryptocurrency analyst said whales suddenly accumulated tens of millions of dollars worth of Dogecoin (DOGE) in just a few days.

Crypto strategist Ali Martinez told his 63,100 followers on social media platform

Source: Ali Martinez/X

Using data from analytics platform Santiment, Martinez says DOGE’s sudden whale accumulation occurred as sentiment for the major memecoin fell close to 2024 lows.

“Market sentiment for Dogecoin is as bearish as it was in early February, right before DOGE surged 200%!”

video
Source: Ali Martinez/X

Dogecoin sparked a major surge, rising from $0.077 on February 1st to $0.228 on March 28th. As of this writing, DOGE is worth $0.159.

Looking at Dogecoin’s rival, Shiba Inu, Martinez said cryptocurrency exchanges are suddenly seeing massive inflows of SHIB.

“Shiba Inu: Over 4 trillion SHIB have been sent to cryptocurrency exchanges in the last two weeks, valued at approximately $103 million!”

video
Source: Ali Martinez/X

As of this writing, SHIB is trading at $0.000025.

Looking at Ethereum, the leading smart contract platform, the cryptocurrency strategist says the number of giant whale ETH wallets continues to grow.

“There has been a noticeable increase in the number of Ethereum addresses holding more than 10,000 ETH, signaling a shift from distribution to accumulation!”

video
Source: Ali Martinez/X

As of this writing, ETH is worth $3,790.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Featured image: Shutterstock/Ruslan__Grebeshkov/Viaire

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