Massive Cryptocurrency Transactions: Dogecoin and SHIB Whales Take Advantage of Price Dips

Large Dogecoin Transfer Spotted

A significant cryptocurrency transaction involving Dogecoin (DOGE) has been tracked by Whale Alert, a leading blockchain tracker. Approximately 175.2 million DOGE, valued at nearly $55 million, was transferred from Binance to two anonymous wallets. The funds were split into three transactions, with one wallet receiving 90,071,992 DOGE each, totaling 175,274,112 DOGE.

The first wallet now holds 537,812,664 DOGE, worth around $173.5 million, while the second wallet contains 175,274,112 DOGE, valued at $56.5 million. These transactions occurred as Dogecoin experienced a price drop of over 12% in the past 24 hours, falling from $0.35349 to $0.32041. This decline presented a buying opportunity for traders and investors.

SHIB Whale Accumulates 257.5 Billion Tokens

In a separate development, a cryptocurrency whale has amassed 257.5 billion SHIB tokens, equivalent to approximately $4.6 million. This purchase follows a similar acquisition by the same whale, who now holds 477.5 billion SHIB, worth $8.57 million.

The SHIB price has also seen significant volatility, dropping 11.84% over the past 24 hours before partially recovering. It currently trades at $0.00001819, reflecting a 3.55% rebound.

Market Context

Both transactions highlight whales' strategies to buy meme coins during price dips. Dogecoin and SHIB, two of the most popular meme cryptocurrencies, have followed broader market trends, with Bitcoin also experiencing a decline before showing signs of recovery. These large-scale movements underscore the continued interest in meme coins despite market fluctuations.