Two DOGE Whales Reduce Holdings By $121 Million, Possible Elon Musk Connection

Key Points:

• A whale has been buying $ETH since Jan 15, worth $46.8M.
• Elon Musk’s $DOGE logo changes led to price spikes and a 6% dip.
• Two whales among the top 5 holders reduced their holdings by $121M.

A whale has been buying $ETH since Jan 15, worth $46.8M currently. Elon Musk’s $DOGE logo changes brought price spikes, followed by a 6% dip. Two whales in the top 5 holders reduced their holdings by $121M.

Recently, Lookonchain discovered that a whale has been purchasing $ETH from #Binance since January 15. The total amount bought so far is 25,255 $ETH, which is currently worth $46.8 million, with an average buying price of $1,649.

Additionally, the whale received 1,290 $ETH, worth $2.4 million, from #Binance just ten hours ago. The whale exchanged 10,633 $ETH for 19.6 million $USDC at a price of $1,851 and then deposited it into #Compound. The current assets held by the whale are worth $232 million.

Elon Musk’s recent changes to the Bluebird logo of $DOGE were followed by a change in the price of the cryptocurrency. On April 4, the price of $DOGE increased by approximately 30% when the logo was changed to a dog. However, on April 7, when the logo was changed back to Bluebird, the price of $DOGE decreased by about 6%.

During this period, two whales among the top five holders reduced their holdings by approximately 1.4 billion $DOGE, which is equivalent to $121 million. Whale “DDuX” (the 5th holder) reduced 1.1 billion $DOGE, worth $95.2 million, while Whale “D8ZE” (the 3rd holder) reduced 300 million $DOGE, worth $28.6 million.

The possibility of these two whales being related to Elon Musk is unclear. It is important to note that cryptocurrency markets are highly volatile and can fluctuate rapidly based on many factors, including changes in logo design. It is always advisable to exercise caution and conduct thorough research before making any investment decisions.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Thana

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