Dogecoin Whales Scoops 3 Billion DOGE Ahead Of Twitter Rebranding
Dogecoin News: Elon Musk’s execution of rebranding his recently bought micro blogging platform, Twitter to “X” left several crypto tokens rallying Musk’s favorite meme crypto, Dogecoin (DOGE) is one of them. However, data depicts that Dogecoin whales are also excited about this move.
Also Read: Elon Musk Hints At Dogecoin Support on X (Twitter), DOGE Price Jumps
Dogecoin Price Decouples From the Market
The global digital asset market printed red indexes on Monday. However, amid the massive sell-off and increased selling pressure, the biggest meme crypto, Dogecoin performed a decoupling event by registering green indexes.
Dogecoin price surged by almost 5% in the last 24 hours making it the second highest gainer among the top 100 crypto. DOGE’s 24 hour trading volume took a giant leap of 353% to stand at $1.3 billion. It is trading at an average price of $0.075, at the price time.
According to Ali, a crypto analyst Dogecoin whales were on an accumulation spree over the last three weeks. Crypto whales scooped around 3 billion Dogecoins (approx worth $225 million) over this period of time. The accumulation has led DOGE to surge by more than 12% in the last 30 days. Read More Dogecoin News Here…
Elon’s Fav DOGE
It should be noted that accumulation began around the announcement by Elon Musk to rebrand Twitter as “X”. On Monday, the Twitter owner brought his vision to reality by changing the logo, name and domain of Twitter. However, this move has pushed DOGE to surge amid the high selling pressure.
Earlier, Elon Musk replaced the Twitter logo with the Dogecoin logo overnight. This depicts his support for the biggest meme crypto which is driving the token ahead. However, it will be interesting to see if Musk announces any new plans to utilize DOGE on X.com.
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