1,320,000,000 DOGE in 48 Hours – What’s Happening?

Cryptocurrency analyst and trader Ali Martinez, known on the X social media platform as @ali_charts, has published recently accumulated analytics data about the recent activities of Dogecoin large holders, known within the community as “whales.”

Related

Whales dispose of 1.32 billion DOGE

Over the past few days, they have unloaded an astounding amount of roughly 1,320,000,000 DOGE meme coins. The drop in their holdings over the past 48 hours was detected by on-chain data company Santiment, whose chart Martinez shared with his X followers.

The chart shows that the whales who dumped the aforementioned mind-blowing amount of Dogecoin each hold a minimum of 1,000,000,000 coins in their wallets. This decline in whales’ holdings occurred on April 7 and April 8, when the DOGE price faced a massive 22% crash, falling from $0.168 to $0.131 on those two days.

That was part of a bigger price drop that started on March 25, when Dogecoin lost a local high of $0.206, and since then it has dropped by 28.6%, landing on the $0.147 price mark where it is changing hands at press time.

Related

50.8% DOGE supply in profit now

According to a report published by another popular on-chain data aggregator, Glassnode, Dogecoin has recently been among the most profitable assets. Glassnode’s data reveals that 50.8% of the DOGE supply year-to-date has been in profit, meaning that the amount of Dogecoin held by investors is worth more than what it was bought for initially.

Other top cryptocurrencies were also on this list — Bitcoin, Ethereum, Toncoin, Solana, etc. — showing profitability of 76.8%, 44.9%, 76.7% and 31.6%. All of these were surpassed by just two top 10 cryptocurrencies, XRP and TRX, with 81.6% and 84.6% of their supplies in profit now.

300 million DOGE deposited to Binance by anon whale

Earlier this week, prominent blockchain tracker Whale Alert noticed a gargantuan transfer of Dogecoin targeted at the world’s largest crypto exchange, Binance. The transaction carries a whopping 300,000,000 DOGE and was made from an anonymous wallet, most likely indicating a potential further sale.

This serves as a confirmation of the Santiment report about whales dumping part of their DOGE bags as the coin’s price went into a free fall, following that massive decline of Bitcoin as a reaction to the market uncertainty caused by the new round of trade tariffs implemented by the U.S.