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Whales Move 407M Dogecoin As Elon Musk Moves To Twitter HQ

Altcoins

thecryptobasic.com 27 October 2022 08:08, UTC
  
Reading time: ~2 m

Hefty amount of Dogecoin moves amid Elon Musk’s Twitter takeover.

Whale Alert, a cryptocurrency whale tracking platform, has been observing whale investors’ large movements of millions of Dogecoin (DOGE). Over the past 24 hours, a total of 407,755,487 DOGE ($32.21 million) were moved by whales in two separate transactions.

12 hours ago, a lump sum of 107,755,489 DOGE was transferred from an unknown wallet to Binance, the world’s largest exchange by 24 hours trading volume. At the time of the transaction, the fund was valued at around $7.25 million.

🚨 107,755,489 #DOGE (7,258,880 USD) transferred from unknown wallet to #Binancehttps://t.co/3Cc5SNoR7w

— Whale Alert (@whale_alert) October 26, 2022

A few hours later, Whale Alert also tracked the movement of nearly 300 million DOGE. According to the cryptocurrency whale tracking platform, 299,999,998 Dogecoins ($21.56 million) were moved from an unknown wallet to another unknown wallet.

🚨 299,999,998 #DOGE (21,563,957 USD) transferred from unknown wallet to unknown wallethttps://t.co/dmo3SiRkI0

— Whale Alert (@whale_alert) October 26, 2022

Dogecoin Investors React to Musk’s Twitter Takeover

It is not surprising to see whales move large amounts of Dogecoin in the past day. The price of Dogecoin has spiked following news of Elon Musk’s Twitter deal nearing its conclusion.

Yesterday, Musk posted a video of him walking into Twitter headquarters in San Francisco, ahead of the court-ordered deadline to finalize the $44 billion deal. In the video, Musk was seen holding a sink and walking into the Twitter office.

Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7

— Elon Musk (@elonmusk) October 26, 2022

Dogecoin Price and Social Sentiment Soar

The development got Dogecoin investors excited. Members of the Dogecoin community believe the Tesla exec will make decisions that will favor the cryptocurrency when he eventually takes over the social media platform.

Based on this, the canine-themed cryptocurrency has soared in different aspects in recent days. Data from leading cryptocurrency aggregator platform Coingecko shows that the price of Dogecoin is up 20.2% and is currently changing hands at $0.079.

Musk’s Twitter takeover is also being reflected in Dogecoin’s social sentiments. Leading cryptocurrency social intelligence platform LunarCrush noted that Dogecoin’s social dominance started on a strong note this week. The leading memecoin became LunarCrush’s coin of the day following its recent trend across social media platforms.

🚨 Much wow 😎

✅ $DOGE is Coin of the Day on LunarCrush 🙌
✅ $DOGE has an AltRank™ score of 1 🚀
✅ $DOGE is trending on our "Live Dashboard" 🤩

The #Dogecoin community is 🔥🔥🔥 pic.twitter.com/AIhKCZPl3i

— LunarCrush (@LunarCrush) October 26, 2022


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