Dogecoin Faces Buying Pressure From Whales; Large Transactions Jump 68%
According to IntoTheBlock data, Dogecoin whales, or large holders, have gotten into action as large transactions rose 68% in the last 24 hours. Large transaction surges are typically linked to increased activity from whales, who are either buying or selling, and these total more than $100,000.
Dogecoin jumped as much as 8% after Tesla CEO Elon Musk announced on Twitter that he was going to "keep supporting Dogecoin." He also stated he was buying the meme coin. Since April 2019, when he tweeted about Dogecoin being his favorite cryptocurrency, Musk has been Dogecoin's highest-profile cheerleader. While responding to a tweet by Dogecoin co-creator Billy Markus, who said that he wants Dogecoin to have a reason to exist—"something beyond pump and dump."
Source
@Doge_ShibaInu
