all Dogecoin (DOGE) Whales have recently offloaded a significant portion of theirs. DOGE holdings As an act of profit. These actions had a negative impact on the price of MEMCOIN, which continued to decline thereafter.
Dogecoin Whale Offloads 86 Million DOGE
On-chain data It shows a cryptocurrency trader deposited 86 million DOGE on cryptocurrency exchange Robinhood to profit from the recent surge in the price of the meme coin. However, whales appear to be bullish on meme coins in the long term, as they have repurchased significant amounts of DOGE and still hold significant amounts.
Meanwhile, due to the size of this sale, Dogecoin’s price has since declined and is currently in a downward trend. Previously with Dogecoin Other Meme Coins It has led other altcoins with significant gains over the past few weeks. Therefore, it is understandable that the Dogecoin whale in question took the opportunity to make some profits.
This week has been a profitable week in the Memecoin ecosystem. bitcoinist reported About Shiba Inu (SHIB) and PEPE Whales realized profits They offloaded their meme coin holdings, spending $48.105 million and $33.64 million.
This wave of profit-seeking has partly contributed to significant price declines in major meme coins. DOGE and SHIBOver the past seven days, both cryptocurrency tokens have fallen more than 6% and 18%.
but, Solana-based meme coin These cryptocurrency tokens have kept the wider meme coin ecosystem alive, generating incredible numbers for cryptocurrency investors. Book of Meme (BOME) is making a splash with record growth following its launch this week. It has a market capitalization of $1 billion and is listed on major cryptocurrency exchanges.
Total crypto market cap is currently at $2.5 trillion. Chart: TradingView
Profit more from Meme Coin Trader
On-chain analysis platform spot on chain Published on X (formerly Twitter) post Cryptocurrency Trader Who Made Millions Recently SHIB Investment. This trader has 1.741 trillion SHIB (average price sold all of them ($0.000009272) for $16.146 million and sold them for $39.668 million (average price $0.00002278), making a profit of $23.5 million.
This same trader reportedly just realized $46.53 million in profits from FLOKI and BIGTIME. Meanwhile, Spot On Chain noted that smart traders, including MakerDAO founder Rune Christensen, took profits from SHIB last week, which led to a big drop.
Featured image from Pixabay, chart from TradingView