According to the popular cryptocurrency analyst Ali Martinez, in recent months, 6 addresses have been added to the “whales” shelf of the meme cryptocurrency Dogecoin. They bought 620 million DOGE.
This number of addresses seems small, but in fact it is 5.13% of the total number of Dogecoin whales. The “whales” are the owners of wallets, which contain from 100 million to 1 billion coins. Given that the meme cryptocurrency is currently trading at $0.06, the “whales” invested $37.6 million. Ali Martinez received the data from IntoTheBlock.
Since the beginning of the year, Dogecoin has lost 64% of its capitalization – this is due to the general fall of the cryptocurrency market. However, the American entrepreneur Elon Musk continues to support meme cryptocurrency. After the transition of Ethereum to the Proof-of-Stake (PoS) algorithm, it was Dogecoin that became the second most capitalized cryptocurrency on the Proof-of-Work (PoW) algorithm.
In mid-June, analytics firm Elliptic reported that cryptocurrency scammers and criminals are increasingly using Dogecoin to create pyramid schemes and other crimes.
Source: Bits
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