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, in keeping with blockchain analytics platform Lookonchain.

These buyers maintain round 63.71% of the memecoin’s complete circulating provide, accounting for round 66.5% of the token’s market cap.

In response to 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, nevertheless, 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 income whereas memecoin’s worth spiked final week following information of Tesla CEO Elon Musk’s Twitter acquisition. Dogecoin worth 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 embrace 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, 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, in keeping with CryptoSlate information.

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