OG memecoin Dogecoin returns to be whales’ favorite after Twitter boss and DOGE proponent Elon Musk sent Christmas greetings with a picture of Shiba Inu and his other pet dogs.
Data from WhaleStats showed that DOGE became the most traded token among the top 100 Binance Coin [BNB] holders by flipping the new investors’ favorite, Filecoin’s token, FIL.
The price of the token was not significantly affected by Musk’s subsequent mention of DOGE, but trading volumes during the holiday were higher than on other weekdays in the previous month.
Recently, a massive amount of DOGE was moved by the biggest Dogecoin whale in the crypto market.
The DOGE transfer was transferred from the biggest Doge wallet to the fifth biggest wallet address of the memecon.
According to reports, the largest crypto holder sent almost 3.8 billion DOGE, which is equal to 280 million USD at the current price of Dogecoin of 0.7242 USD.
The transfer happened within the previous 24 hours and was received by the address known as “DDuXGM.” Due to the fact that it is the fifth-largest wallet on the Dogecoin blockchain, the wallet address that got the huge sum also belongs to the whale wallet.
The original parody cryptocurrency, Dogecoin, managed to stay relevant all year. This is unquestionably connected to Elon Musk’s acquisition of Twitter.
Dogecoin Was The Most Searched Crypto
Everyone in the world is aware that DOGE is Musk’s favored cryptocurrency. The fact that the asset is on Twitter has frequently come to light. During this time, the bitcoin price saw gains.
Through 2022, the meme cryptocurrency saw extreme volatility. DOGE is presently trading around $0.07 after reaching a high of $0.185 at the start of the year. Additionally, earlier this year, the asset fell to a low of $0.04972.
From the above chart provided by Lunarcrush, Dogecoin’s social influence was much greater in October 2022 than it is right now.
It’s obvious that Musk’s takeover of Twitter also had an impact on Dogecoin’s popularity. The token was searched for globally 5,850,000 times per month at its peak. Only 729,000 of them were Americans.