Claim BonusJust-In: Whale Dumps 2 Billion Dogecoin Amid PEPE Frenzy, DOGE Price To Crash?
Whales dumping popular meme coins Dogecoin and Shiba Inu amid the massive PEPE hype that led whales to grab the frog-themed meme coin. A top Dogecoin whale has moved almost 2 billion DOGE on Tuesday and has only 1 DOGE in the wallet. Typically, large whale activity follows massive price movement. Is DOGE price on the brink of a crash?
Dogecoin Whale Moves 2 Billion DOGE
On May 9, a whale dumped 300 million Dogecoin (DOGE) tokens worth $21.73 million to the crypto exchange Binance, as per WhaleStats.
However, the on-chain analysis revealed that the Dogecoin whale has moved 1.98 billion DOGE worth $160 million in a transaction at 8.50 AM UTC. The whale sent 300 million to Binance and 1.68 billion to a new wallet address. The wallet address is now the 8th largest wallet holding, accounting for 1.21% of total Dogecoins.
Other whales are also dumping DOGE and Shiba Inu (SHIB) for either buying PEPE or temporarily exiting the market. In the last 24 hours, 2.20 billion DOGE coins have been moved.
Shiba Inu whales are also dumping SHIB for PEPE. A whale sold 6 million SHIB for buying 325 billion in mid-April and made millions by making the decision, as per data by Lookonchain.
Also Read: Binance Expands Support For PEPE and FLOKI, Price To Rally?
Will DOGE Price Crash?
DOGE price fell over 2% in the last 24 hours, with the price currently trading at $0.073. The 24-hour low and high are $0.070 and $0.075, respectively. Furthermore, the trading volume has increased in the last 24 hours amid the selloff by whales.
DOGE price is trading below key levels and the probability of hitting the $0.065 support level is higher. Whales have likely seen this scenario as Shiba Inu and Dogecoin continue their downfall.
Also Read: Terraform Labs Moves Tokens Worth Millions A Year After Terra-LUNA Crisis
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- BTC Price May Rally if Fed Prints Money to Stabilize Japan, Says Arthur Hayes
- Trump Says Interest Rates Will Come Down Once Fed Chair Is Replaced
- Why Monad Token Price is Up Today?
- Strategic Bitcoin Reserve: South Dakota Introduces Bill to Invest in BTC as U.S. States Explore Crypto
- Trump Speech in Iowa Today: Possible Impact on Stocks and Crypto Market
- Shiba Inu Price Outlook As SHIB Burn Rate Explodes 2800% in 24 Hours
- Pi Network Price Prediction as 134M Token Unlock in Jan 2026 Could Mark a New All-Time Low
- Bitcoin Price Outlook as US Dollar Index Hits 4-Year Low, Gold Soars
- Stock Market Today: Nasdaq, Dow, S&P 500 Futures Rise Ahead of Fed Meeting, and Jobless Claims
- Bitcoin And XRP Price Prediction Ahead of FOMC Meeting Tomorrow, Jan 28
- XRP Price Prediction as Ripple Scores Big Partnership in Cash-Rich Saudi Arabia
