CandleFocus

1,000,000,000 DOGE in 24 Hours - What's Happening?

Author: Content Editor
Yesterday, a significant amount of Dogecoin was moved, with a spike in transfers exceeding 1 billion DOGE in just 24 hours. This movement of DOGE, worth approximately $197 million, was observed as the price of the meme coin dropped and then started to recover. The data was shared by cryptocurrency analyst Ali Martinez, who warned earlier that DOGE could see a correction to $0.015 if it lost support at $0.19. During the same period, Dogecoin rose by 7.65% but later slipped by almost 5%. The decline in DOGE, as well as the overall crypto market, followed Bitcoin's price. Bitcoin experienced a drop of nearly 5% after the announcement that the US government doesn't plan to purchase any Bitcoin and will instead hold the BTC it has confiscated in the past. Additionally, it was clarified that XRP, ADA, and SOL are not part of the American crypto reserve mentioned earlier.

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