Cryptocurrencies continue their decline without slowing down. On the other hand, whales do not give up on their purchases. WhaleStats whale watching platform shared its latest major portfolio moves. According to the platform’s data, the original meme coin, Dogecoin (DOGE), not SHIB, made it to the list of coins with the highest trading volume.
DOGE, not SHIB, entered the top 10 of cryptocurrencies
According to WhaleStats, DOGE ranks 6th among the top ten cryptocurrencies by trading volume. At the same time, DOGE entered the top ten of the most bought cryptocurrencies by whales on the BNB Blockchain.
The chain tracking service website shows that DOGE currently holds 0.92% of the BSC whale portfolio. Tokens corresponding to this rate are equivalent to $ 10,104,819. WhaleStats shared the following on their Twitter account:
DOGE is in the top 10 by volume of trade among the 2,000 largest BSC whales in the past 24 hours.
Why does Dogecoin’s price keep falling?
The cryptocurrency market continues to suffer heavy losses. At press time, the decline has deepened further. The crypto leader Bitcoin broke the $ 20,000 psychological support during the day. cryptocurrency.com As you can see from their news, most analysts said that this level is very important. Furthermore, they noticed that if BTC breaks this support, it will slide down. Now it has happened and BTC is struggling to keep just above $ 18,000.
When the major cryptocurrency receives deep wounds, altcoin projects follow. Therefore, rival SHIB DOGE is getting its share this winter. At the time of writing, DOGE is down 8.68% in the past 24 hours to $ 0.05168. DOGE hit an all-time high of $ 0.7376 about a year ago. Currently, the meme coin has dropped 93% from its peak.
The meme coin was also pushed down by the general market decline, with Bitcoin falling below $ 19,000 and Ethereum below $ 1,000. As you know, DOGE owes its reputation in the cryptocurrency market in large part to Tesla CEO Elon Musk. So much so that Musk bought a Dogecoin-inspired Japanese Shiba Inu puppy. He also got the DOGE pumped up a lot with his Twitter posts.
Now things seem to have changed. Tesla boss Elon Musk, Dogecoin’s biggest influencer, is facing a lawsuit. In the lawsuit, the plaintiff accuses Musk of promoting Dogecoin, which he describes as a Ponzi scheme. Additionally, he asks Musk to stop promoting DOGE and pay him a total of $ 285 billion.
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