Dogecoin (DOGE) whales can’t seem to sit still. Several high-net-worth investors holding millions of dollars worth of DOGE moved their holdings in the last seven days, prompting speculation about the crypto’s outlook in the near term.
A large Dogecoin whale investor sent 230 million DOGE — worth more than 21.6 million at current prices — from an unidentified wallet to crypto trading platform Robinhood on Wednesday, potentially to lock in on profits from earlier purchases. The transaction was flagged by blockchain tracker Whale Alert.
Whales are investors who hoard huge amounts of digital assets. Whale behavior is often under the radar of crypto watchers, as their crypto purchases can shake the markets. An influx into exchanges signals the investor intends to sell the asset, although it’s difficult to tell what happens with tokens once it’s been shifted to…
