200,537,614 DOGE Stuns Major Crypto Exchange, Sell Signal?

Dogecoin has seen an increase in large transactions, those from large holders referred to as whales, in the last 48 hours. Blockchain data trackers reported a few large transactions for Dogecoin, with millions of coins moved between wallets and crypto exchanges.

The last 24 hours have seen 200,537,614 $DOGE arrive at the crypto exchange OKEX in two separate transactions.

The two transactions reported by Whale Alert are 119,306,143 $DOGE worth $34,625,784 transferred from an unknown wallet to OKEX and 81,231,471 $DOGE worth $23,414,006 transferred from an unknown wallet to OKEX.

In a separate transaction reported in the past day, 119,306,143 $DOGE worth $34,811,147 was transferred from OKEX to an unknown wallet. This bears a similar amount of coins to the transaction that shifted 119,306,143 $DOGE to the OKEX exchange; however, the relationship between the sending and receiving wallets is unclear as they remain unknown.

In another transaction reported by Whale Alert on Sept. 12, 120,000,000 $DOGE worth $35,519,949 was transferred from OKEX to an unknown wallet.

Dogecoin price

Dogecoin retreated after a sharp surge from $0.272 to $0.3075 on Saturday. $DOGE surged for four straight days to a high of $0.3075, last seen in February, as investors reacted to latest Dogecoin market developments.

The Rex Osprey $DOGE ETF is expected to launch this week, the first of its kind in the United States.

At the time of writing, Dogecoin was up 5.57% in the last 24 hours to $0.28, in line with the ongoing profit-taking in the crypto market, but remains up 29% weekly.

On what comes next for Dogecoin's price, crypto analyst Ali expects Dogecoin to consolidate for a little while, with its next leg up expected to reach $0.45.