Dogecoin (DOGE), the world’s largest chest coin, has risen close to 20 percent on a daily basis. Currently, DOGE is changing hands at $0.077 with an 18.1 percent value benefit. In addition to the rise in the price of the coin, which is in the first place in the middle of chest coins with a market value of 10.6 billion dollars and is considered the ancestor of chest coins, the movements of DOGE whales also drew attention. Here are the details…
DOGE at levels not seen in two and a half months: Whales are active
Dogecoin (DOGE) trades above $0.07 for the first time in ten weeks. The latest DOGE price rally came in the midst of big whale processes. According to ten chain data provider Santiment, there have been more than 420 DOGE whale processes costing over $100,000 each. Also, transaction volume for Dogecoin (DOGE) reached a surprising $1.18 billion.
Some market analysts believe that the latest Dogecoin (DOGE) rally came as Elon Musk is expected to finalize the Twitter consensus this week, according to Bloomberg. As such, the Dogecoin community is rejoicing that the treaty can pave the way for DOGE processes on Twitter. Elon Musk has been the biggest proponent of Dogecoin for the past few years and believes the chest cryptocurrency is more beautiful than Bitcoin for handling daily payments.
Elon Musk drama: What happened?
Koindeks.com As we have also reported, one of the things that affect the price of DOGE is Twitter and Musk drama. The billionaire announced earlier this year that he had bought a large stake in the social media platform. Shortly after, he said he wanted to buy the platform and make it a private company. However, according to Musk, the social media company could not provide the necessary user information. Afterwards, Musk decided to take a step back at some point. Twitter sued, and the billionaire renewed its interest in acquiring the company.
Late last night, Musk posted an image of him entering his Twitter office while carrying a sink and made a wordplay. “Entering Twitter HQ – let that sink in!” said. He also said that he met many “cool people” at the company’s office. As expected, Dogecoin’s price exploded following Musk’s image. The billionaire has expressed his love for the biggest chest coin countless times in the past. Dogecoin tends to trade higher when Musk does something big. Musk is expected to complete his Twitter purchase this Friday.
The latest situation in the rise of Dogecoin
During the 48-hour period, the DOGE price rose more than 25 percent with its valuation rising to $10 billion within a short period of time. Still, Dogecoin (DOGE) is below its all-time high recorded in May 2021 last year. At that time, he had seen $ 0.73. Now, it sees processes 90 percent below that measure.