Based Whale statistics, a major investor in Dogecoin, has increased its holdings to nearly 6.3 million DOGE. Despite this news, Dogecoin price continues to move sideways after falling to $ 0.122 during the December 4th carnage. The whales know how to use periods of recession or consolidation to accumulate money.
Large Investor Increases Dogecoin Assets To VND 6.3 Million
This time, investors continued to buy amid the recent fall. An anonymous buyer just bought 6,369,751 DOGE for $ 1,114,337, while the Dogecoin price is around $ 0.17.
Dogecoin has been around for 8 years and has an average of 60 million active addresses. It can be said that DOGE has had a significant impact over the years. At the height of the euphoria, Dogecoin soared 17,000% in just four months in early 2021, according to Elon Musk’s social media activity. Although Dogecoin is down almost 76% from an all-time high of $ 0.731, Dogecoin is still up 5.427% since the beginning of the year.
A Shiba Inu transaction worth about $ 125 million was discovered on a Twitter account. Whole cash purchases are fraudulent and can be a problem for the Shib community.
According to some comments from Etherscan, the SHIB 3 trillion purchase was likely made by the creators of the infamous GameFi project, Squid Game, which stole investor funds and soon disappeared without providing a product.
Transactions linked to wallet addresses with the ending “c802c” are flagged with stolen tokens and sent to Krypto-Mix to hide their traces. Let’s say the above transaction is being carried out by Squid Sports scammers. In this case, a significant portion of the circulating Shiba Inu supply currently belongs to those who tend to manipulate the market price of the asset in order to profit from it.
Well-developed funds on their own will not drive home prices down, but they will affect and even halt local growth. With volume available in the market, SHIB 3 trillion will account for 50% of the daily trading volume.
At press time, SHIB is trading at $ 0.000036 with no significant change in the past five days. The extremely low volatility affected the SHIB market after the token’s price dropped 25% in one day and then quickly rose 15% after bottoming out.