Much WOW: DOGE whales move $ 12 billion in one day

Dogecoin is currently experiencing a huge rise. This is used by Dogecoin whales to move USD 12 billion in a day, twice as much as in Ethereum.

DOGE rises and rises

Dogecoin's price explosion coincided with that of many coins when $ 12 billion was moved in a single day.

Dogecoin’s massive surge in market cap coincided with DOGE whales resuming activity while the coin has reached new heights in the past 24 hours.

According to BitInfoCharts, Dogecoins worth over USD 12 billion were moved yesterday. During the same period, ETH worth 6 billion USD was moved on the Ethereum blockchain on the same day.

Dogecoin was created in 2013 as a joke, known as the symbol of the Shiba-Inu dog. The project has no active developers and in 2016 the creator sold all of its coins in his unemployment.

There is no trace of decentralization at DOGE, which is becoming more and more important. Only one address contains 28% of the total coins, while 11 addresses make up 46%. Dogecoin fan Elon Musk, CEO of Tesla, also noticed this, of course, because he said he would fully support the cryptocurrency if the top holders sold most of their coins.

In February , Musk tweeted :

“If big Dogecoin holders sell most of their coins, it will have my full support. Too much concentration is the only real problem imo. "

Dogecoin has seen a massive boost due to Reddit posts, and especially Musk's tweets. In its eight-year history, the coin has only reached the value of $ 0.01 once. With a sudden 400% surge to over $ 0.30 last week alone, DOGE has drawn a lot of attention.

Skew analysts said the number of new subscribers to the DOGE subreddit was in line with the price hike. It went from hundreds to thousands a day.

According to analysts at Skew.com, the number of new subscribers to the submarine has grown exponentially over the past week in line with the rise in the price of coins, going from hundreds to thousands per day.

With the rise of DOGE, it has now also been possible to leave Tether and ADA, and Polkadot behind and place them in 5th place in the top 10 on Coinmarketcap.com.

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