Dogecoin (DOGE) Sees Massive Transfers as Price Spikes 5%
Dogecoin (DOGE), the meme-inspired digital asset, has seen some heightened whale activity.
Earlier this Wednesday, 64.7 million DOGE, equivalent to around $6.2 million, was transferred to Coinbase from an unidentified wallet.
In another major transaction, 72.6 million DOGE, valued at approximately $7.1 million, moved from Robinhood to an unknown destination.
Dogecoin’s 10th anniversary
These substantial transfers coincide with Dogecoin’s 10th anniversary on Dec. 6, a decade since its initial launch in 2013.
Dogecoin’s evolution from a light-hearted meme to a significant player in the cryptocurrency market is a journey worth noting. Originally developed as a playful alternative to more serious digital currencies, Dogecoin has since gained a substantial user base and widespread recognition.
The coin’s 10th anniversary not only marks its longevity but also stresses its unique position in the digital currency landscape.
Leading the pack
Amidst a volatile crypto market, Dogecoin has shown remarkable performance, outshining other top 10 cryptocurrencies in recent trends.
According to data provided by CoinGecko, the leading meme coin is up more than 5% over the past 24 hours.
This surge places DOGE allows the meme coin to stand among among its counterparts like Bitcoin, which is up only a mere 0.8% after a stunning rally.