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In the last 24 hours, two major ones Dogecoin Transactions headed to Coinbase, a leading cryptocurrency exchange, have been detected.
Blockchain data tracking Whale alert It reported two transactions totaling 219 million DOGE, valued at over $73.8 million, transferred from unknown wallets to Coinbase.
The first transaction involved transferring 112,670,012 DOGE, worth approximately $37,990,922 USD, from an unknown wallet to Coinbase. Shortly after, the second transaction saw 106,437,367 DOGE, worth approximately $35,889,352 USD, transferred from another unknown wallet to the same exchange.
These transactions collectively transferred more than 219 million DOGE to Coinbase, sparking interest and speculation in the cryptocurrency market.
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Deposits on exchanges may indicate a desire to sell, while withdrawals may indicate buying. However, deposits at Coinbase could indicate that whales are preparing to sell; Whales may need to free up cash for other investments or to cover operational costs; This move may also be an adjustment to the fund. With all that said, the exact reason for the transfers remains unknown.
Dogecoin records significant growth despite “quiet”
2025 has started on a positive note for top crypto assets, with the number of people holding them fluctuating significantly since the new year. Dogecoin (DOGE) It added 29,000 wallets during the period, according to Santiment data.
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According to Santiment, if portfolios are increasing rapidly, the community is optimistic about the long-term viability of the project. On the other hand, if portfolios are declining, there may be some excess FUD, indicating a buying opportunity in opposition to the panicked public.
Across social media, sentiment has changed towards the largest cryptocurrency market caps. Dogecoin has been very quiet except for a temporary period at the beginning of the year, coinciding with Elon Musk's brief change of the X handle to “Kekius Maximus.”
Since hitting a high of $0.486 about a month ago, Dogecoin has lost more than 28% of its market value. Crowd morale fell near its lowest levels since last year. Currently, public sentiment towards Dogecoin remains bearish.
At the time of writing, DOGE has fallen by 1.07% over the past 24 hours to $0.335.
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