Top 50 Dogecoin holders unloaded $110M worth of DOGE over the past week
The highest 50 Dogecoin (DOGE) buyers collectively maintain 87.1 billion tokens value roughly $12.35 billion at present costs, based on blockchain analytics platform Lookonchain.
These buyers maintain round 63.71% of the memecoin’s whole circulating provide, accounting for round 66.5% of the token’s market cap.
We did an evaluation of the highest 50 holders of $DOGE.
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Listed below are a few of our findings.#dogecoin #DOGEUSDT #DogecoinRise #DOGE #DogecoinToTheMoon pic.twitter.com/9BLO1nMB8B— Lookonchain (@lookonchain) November 1, 2022
In keeping with Lookonchain evaluation, the highest 50 DOGE holders lowered their holdings by 21 million tokens, value roughly $3 million, over the previous 30 days.
During the last week, nonetheless, the highest 50 buyers liquidated 761 million tokens valued at round $110 million, the evaluation confirmed. This means that the highest buyers cashed in a part of their earnings whereas memecoin’s value spiked final week following information of Tesla CEO Elon Musk’s Twitter acquisition. Dogecoin value elevated 133.36% over the previous week.
The evaluation added that the highest 50 DOGE buyers purchased 484 million DOGE tokens value $70 million, over the previous 24 hours.
Over the previous week, 12 of the highest 50 DOGE holders elevated their investments within the token whereas 7 lowered their publicity, as per Lookonchain evaluation.
The highest 50 DOGE holders additionally embody 15 passive buyers with no trades prior to now 6 months, the evaluation revealed. 18 of the highest 50 are early buyers who purchased DOGE earlier than 2020 and 13 are new buyers who bought the token over the previous 6 months.
Over the previous week, Dogecoin value $177 million and $6.7 million flowed into crypto exchanges Binance and Crypto.com, the evaluation said.
On the time of writing, Dogecoin was up 16.01% prior to now 24 hours, buying and selling at round $0.14, based on CryptoSlate information.
