Doge Whales Maneuvering Millions Amid Market Collapse

Dogecoin marks a significant decline as Bitcoin drops following news of payouts by Mt. Gox. The market decline coincides with increased whale activity and liquidations.
On Friday, the crypto market saw significant declines affecting major altcoins such as Dogecoin. Whale Alert data shows large transactions: 400 million DOGE ($41.08 million) were transferred to Binance, and another 50.3 million tokens were moved elsewhere, sparking speculation of a sell-off.
Billy Markus (Shibetoshi Nakamoto), co-founder of Dogecoin, commented on the decline of Bitcoin, emphasizing its symbolic power of financial freedom, which diminishes with a decrease in price.
Trader Tardigrade predicts a potential rebound for Dogecoin, using the Wyckoff Accumulation model to identify buying opportunities during accumulation phases.
Read more:


Two types of altcoins may be potential good investments in times of economic downturn
$DOGE has been playing Wyckoff Accumulation
“Spring” is here right now.
Next will be a Huge Rebound
Are you ready for your #Dogecoin?
pic.twitter.com/2UGMUa5Mpl
— 交易商緩步動物 (@TATrader_Alan)
July 4, 2024
IntoTheBlock data notes a decline in profit-taking among DOGE holders, down to 54% from 78-81%. Net exchanges flows decreased by 1,248.3%, while transactions over $100,000 increased to 338 on July 4 compared to 239 the previous day.
Coinglass reported a sharp increase in liquidations of long Dogecoin positions, amounting to $7.4 million on July 4, the highest value since June 18. Short position liquidations also increased to $1 million, the highest value since June 25.