Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Whales
Are Active:
Are They Buying
Or Selling?
Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Whales Are Active: Are They Buying Or Selling?
by Keshav Verma
3 mins ago
in Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin
0
On-chain data shows the Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin whales have made a few large transactions
during the last 24 hours. Here s what they have been up to.
Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin Whales Have Been Making Transfers To & From Exchanges
According to data from the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта transactions tracker service Whale
Alert , several large transfers have been spotted on the Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
during the past day.
All of these moves are of a scale generally associated with the whales ,
entities that carry humongous balances on the network. Generally, the
influence of any investor in the market goes up the more holdings they carry,
so the members of this group can hold some power owing to their large size.
Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Breaks $82,000: Who Is Driving The Market?
As such, the transactions being made by the whales can be worth keeping an eye
on, as even if they may not end up directly impacting the market, they can
still be revealing the sentiment among this cohort.
How exactly a whale transfer might implicate the asset comes down to what the
investor intended to do with the move. It s usually quite hard to say
anything about that with any certainty, but sometimes, addressing details can
provide a hint or two.
Out of the six transfers the whales have made on the Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin network in the
last 24 hours, one occurred between two unknown wallets. Such addresses
aren t affiliated with any known centralized platform and will likely be
investors self-custodial wallets.
Because of this, transfers between such wallets are impossible to comment on,
as they have nothing identifiable about them, given the anonymous nature of
the blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн.
The other five transfers, however, have some uniqueness attached to them: they
all have one side of the move: a wallet connected to an exchange. Here are the
details related to the latest of the DOGE transactions:
The details of the latest DOGE exchange inflow | Source: Whale Alert
As is visible above, the whale moved around $72.5 million worth of Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin
from an unknown address to a Coinbase wallet with this transaction. Transfers
that flow in this direction are known as exchange inflows .
Two other transactions were exchange inflows, one to Binance ($14.6 million)
and the other to Robinhood ($14.2 million). Thus, the whales have moved a
combined $101.3 million to exchanges.
Generally, investors shift coins to the custody of these central entities
whenever they want to use one of the services they provide, which can include
selling.
The remaining two exchange transactions were of the opposite type; they were
exchange outflows . In the first of these, Robinhood saw a withdrawal of $30.1
million, while in the other, Binance released $56.4 million worth of Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin.
Holders take their coins off into self-custody when they plan to hold into the
long term so that exchange outflows can be bullish for the price. DOGE whales
have deposited $101.3 million to exchanges in the past day, which can be
bearish, but they have also taken out $86.5 million worth of coins
simultaneously.
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Imminent?
Therefore, the bearish effect on Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin arising out of the selling, if any,
may at least partially be mitigated by the exchange outflows.
DOGE Price
When writing, Dogecoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Dogecoin is trading around $0.29, up more than 21% over the last
24 hours.
Looks like the price of the asset has rocketed up over the last couple of days
| Source: DOGEUSDT on TradingView
Featured image from Dall-E, whale-alert.io, chart from TradingView.com