{"id":228626,"date":"2021-04-16T15:53:02","date_gmt":"2021-04-16T12:53:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dogecoin-whales-move-12b-in-one-day-twice-as-much-as-ether\/"},"modified":"2021-04-16T15:53:02","modified_gmt":"2021-04-16T12:53:02","slug":"dogecoin-whales-move-12b-in-one-day-twice-as-much-as-ether","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dogecoin-whales-move-12b-in-one-day-twice-as-much-as-ether\/","title":{"rendered":"# Dogecoin whales move $12B in one day \u2014 Twice as much as Ether"},"content":{"rendered":"

“# Dogecoin whales move $12B in one day \u2014 Twice as much as Ether <\/strong>”
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Dogecoin\u2019s (DOGE) dramatic surge up the market capitalization rankings coincided with the reawakening of DOGE whales as the blockchain\u2019s metrics surged to new heights in the past 24 hours. <\/p>\n

Over $12 billion worth of DOGE was transferred across the blockchain in the past day, according to data<\/a> from BitInfoCharts. To put that number into context, the Ethereum blockchain processed just $6 billion worth of Ether (ETH) on the same day.<\/p>\n

Ether is the world\u2019s second-largest cryptocurrency by market cap and its blockchain is the most actively developed in the world \u2014 with twice as many<\/a> monthly commits on GitHub as Bitcoin (BTC). <\/p>\n

Dogecoin is a meme coin created as a joke in 2013, which derives much of its perceived value from the cute photo of the Shiba-Inu dog that emblazons its logo. It has no active developers, and its own creator sold all of his coins in 2016 during a period of unemployment.\u00a0<\/p>\n

What\u2019s more, in an industry that promises decentralization, Dogecoin stands out like a sore thumb. Just one address contains 28%<\/a> of the total coin supply, while 11 addresses make up 46%. This point was not lost on Tesla CEO and vocal Dogecoin fan Elon Musk, who said he would lend full support to the cryptocurrency if the top holders sold off most of their coins. <\/p>\n

\u201cIf major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo,\u201d Musk tweeted in February when Dogecoin was priced at around $0.05. <\/p>\n

Prior to Dogecoin\u2019s reawakening due to Reddit<\/a> pumps and Musk\u2019s tweets, the coin had achieved a value of $0.01 just once before in its entire eight-year history. The coin\u2019s sudden 400% surge to above $0.30 in the past week alone has drawn a lot of eyes, bringing them to bear on the Dogecoin subreddit. <\/p>\n

According to data<\/a> from analysts at Skew.com, the number of new subscribers to the sub increased exponentially in the past week in line with the surging coin price, rising from hundreds to thousands per day.<\/p>\n