Dogecoin News: Whales Scoops Billions In DOGE After Elon Musk Tweet, Is $0.1 Next?

Dogecoin News: Elon Musk’s favorite meme coin Dogecoin has seen increased purchasing activity in the last few days as Twitter CEO Musk continues to influence the DOGE price. Major accumulation was also seen from the top 20 whales after Musk’s Twitter Payment comment.

On-chain data platform Lookonchain in a tweet on February 16 revealed that a whale has received 250 million DOGE worth $63 million from crypto exchange Crypto.com. After the purchase, the whale entered the top 20 rich list of Dogecoin.

The whale also purchased 200 DOGE worth $39 million from Crypto.com on Wednesday. The wallet address now holds 709,289,274 DOGE, as per data by BitInfoCharts. Other whales also accumulated DOGE amid the recent rally, moving over billions in DOGE.

On Wednesday, Elon Musk’s meme declaring his dog “Floki” as the new CEO of Twitter sends meme coin prices including Dogecoin, Floki Inu, and Shiba Inu to rally higher. Floki Inu (FLOKI) price is currently trading at $0.00005337, up 40% in the past 24 hours. FLOKI price has soared by a whopping 430% over the past 30 days.

Dogecoin is also one of the top 10 purchased tokens among the 100 biggest BSC whales in the last 24 hours. Moreover, it is once again the most used smart contract among the top 4000 BSC whales in the last 24 hours, according to data by WhaleStats.

Dogecoin Price Awaits Upside Momentum Amid Positive News

The crypto market recorded a massive recovery in the last 24 hours, with Bitcoin and Ethereum prices skyrocketing nearly 12% and 10%.

Dogecoin price also jumped over 5%, but give up earlier gains due to profit-taking by investors. DOGE price currently trades at $0.08866, up 2%. The 24-hour low and high are $0.0859 and $0.0902, respectively.

Also Read: Reasons Behind Bitcoin And Ethereum Rally Today, More Upside Ahead?