Large-Scale Dogecoin Transaction Shakes Market
In the last 24 hours, Dogecoin, the internet’s favourite meme coin, has shown an increase of nearly 5%.
Notably, a sizable cache of Dogecoin was moved today, transporting nearly $20 million worth of the popular digital canine currency. The transaction occurred about two hours ago, causing ripples in the crypto market.
As reported by @DogeWhaleAlert in a recent tweet, a staggering 306,260,470 DOGE was shuffled between internal wallets of the Binance exchange. Such transactions are commonplace, particularly when exchanges establish new cold wallets or carry out other operations involving stored funds.
Dogecoin’s Market Movement
Just before this significant transaction, Dogecoin soared by nearly 5%, riding the coat tails of Bitcoin, the leading digital currency. Currently, DOGE is hovering at around $0.06417.
Meanwhile, Bitcoin has gained a solid 7.92% in the last 24 hours, reclaiming the $28,000 mark and inching towards $29,000. This boost was catalysed by the announcement that major Wall Street financial firms — Fidelity, Charles Schwab and Citadel Securities — are extending their support to EDX, a newly inaugurated crypto exchange.
Adding to the excitement, there are whispers that Fidelity intends to apply for a Bitcoin spot ETF, emulating the recent actions of the world’s largest fund manager, BlackRock.
Ethereum’s Market Status
In related news, Ethereum has also reclaimed the $1,820 level and is currently trading at $1,828, according to data provided by CoinMarketCap.
