Investing.com UK - Financial Markets Worldwide
⚠ NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Dogecoin Whales Shuffling Tokens Amid DOGE-1 Moon Mission, 'DOGECOIN = OPPORTUNITY!' Says Trader

Published 05/01/2024, 20:55
Updated 05/01/2024, 22:10
© Reuters. Dogecoin Whales Shuffling Tokens Amid DOGE-1 Moon Mission, 'DOGECOIN = OPPORTUNITY!' Says Trader
DOGE/USD
-

Benzinga - Significant Dogecoin (CRYPTO: DOGE) movements and the upcoming DOGE-1 moon mission have investors buzzing about the popular meme coin.

What Happened: Whale Alert showed whales moving large transfers to Binance and unknown wallets totaling of more than 450 million Dogecoin. Moreover, 82 million Dogecoin and 102.27 million Dogecoin were sent from two undisclosed addresses to Robinhood, as well as 151.68 million Dogecoin moving from Robinhood to another mysterious wallet.

Earlier on Jan. 4, 883.02 million Dogecoin was transferred from one wallet to another unknown wallet.

Price Action: Ranked 10th by market cap, Dogecoin traded slightly lower over 24 hours despite a volume drop and after it climbed 13.4% over the past two months.

Read Next: 2024 Crypto Outlook: Influencers Optimistic On Bitcoin ETF, Shibarium, And Dogecoin

Why It Matters: This activity comes as the DOGE-1 satellite, funded by DOGE, prepares to launch to the moon in February. It will display art and transmit messages back to Earth. It has already received approval from the National Telecommunications and Information Administration (NTIA) and the Federal Communications Commission (FCC).

A SpaceX Falcon 9 rocket will carry the satellite, broadcasting Dogecoin-inspired digital art on a small screen back to Earth.

Also Read: Elon Musk Loves Dogecoin But Says He 'Doesn't Spend A Lot Of Time Thinking Of Cryptocurrency'

Some speculate the landmark mission could fuel further gains if it generated publicity and excitement, leading Dogecoin investors to feel the FOMO (fear of missing out) of investing in the meme coin after the satellite launch.

Former Bitcoin maximalist and X user, itsALLrisky stated, “Dogecoin to the moon!” and Crypto Daily Trade Signals

Another Dogecoin fan, TOPDOGE, took to X on Jan. 4 and stated, “Dogecoin is decentralized. Dogecoin is innovative. Dogecoin is the future. DOGECOIN = OPPORTUNITY!”

Crypto Daily Trade Signals went on X and said, “#Dogecoin soon!”

The satellite launch highlighted DOGE's real-world adoption profile compared to more recent meme coins.

Photo: Pixabay

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.