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Over $90 Million Dogecoin Transferred By Crypto Whales.

Whales moved close to 90.3 million Dogecoin, or more than $15.5 million, to an unnamed wallet in the last 24 hours, according to statistics from the Dogecoin Whale Alert’s Twitter account.

The whole sum was transferred in 14 transactions, with the highest involving over 15 million Dogecoin in one go, and several others ranging from 1 to 8 million Doge.

The total charge for the transaction was lower than 500 Doge. The highest transactions were billed 103.37 DOGE ($17.9).

Whale behavior has been growing in recent months. After Tesla’s declaration to adopt Doge for its items last year, whale action for the token rose by 148%. Tesla eventually canceled the initiative due to ecological worries.

There are multiple whale wallets that retain huge sums of Dogecoin, through one wallet owning 28% of the overall sum at one particular moment in time.

As per Blockchain.News, memecoins are a type of token that is designed as a jest and is centered on a humorous thing, such as a breed of dog, as in the instance of Dogecoin (DOGE) & Shiba Inu (SHIB).

The huge pace of development of these memecoins is a distinguishing trait, backed by increased purchases from large individual investors. Changpeng Zhao, the Chief Executive Officer of Binance, often referred to as “CZ” on social networks, told the Associated Press that the rise of memecoins, notably Dogecoin, is a clear result of the “strength of decentralization.”

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