Whales transferred Dogecoin for $54.8 million after learning about the sale of Twitter


The news that appeared on October 4 about the purchase of Twitter banned in Russia by Elon Musk had a strong impact on the Dogecoin cryptocurrency market.

On Tuesday, the eccentric billionaire again offered the shareholders of the social network to sell securities at the rate of $ 54.20, so Musk is ready to pay $ 44 billion for the company. The management of Twitter has agreed to the deal, but is going to put forward several conditions so that the top manager does not change his mind, as last time.

Against the background of these events, on October 4, an unknown fat man transferred 449.5 million DOGE. The next major transaction took place on October 6, when someone withdrew 386 million DOGE from the wallet. The total value of transactions at the time of the transfer was $ 54.8 million.

Experts of the research company Santiment suggested that the whales transferred the coins in order to sell them and fix the profit earned by increasing the Dogecoin rate. The graph of the movements in the values of coin confirms this hypothesis, since the asset price was dumped on October 5 and 6.

In the case of the sale of the Twitter Mask, the coin-meme should rise in price due to the integration of the digital asset into the social network. There are rumors that Elon plans to make Dogecoin the official cryptocurrency of the platform and charge a small fee in DOGE for publishing messages to combat spam.

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