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HomeCrypto NewsMarketWhales Move 407M Dogecoin As Elon Musk Moves To Twitter HQ

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

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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. 

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.

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. Musk can complete the deal by Friday, October 28.

In the video, Musk was seen holding a sink and walking into the Twitter office.

Dogecoin Price and Social Sentiment Soar 

The development got Dogecoin investors excited. Members of the Dogecoin community believe the Tesla exec will decide to favor Doge when he eventually takes over the social media platform. 

Based on this, the canine-themed cryptocurrency has soared in different aspects recently. Data from leading cryptocurrency aggregator Coingecko shows that Dogecoin’s price 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 meme coin became LunarCrush’s coin of the day following its recent trend across social media platforms. 

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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