In a recent turn of events, Dogecoin, the internet’s beloved meme-inspired cryptocurrency, experienced a modest 2% uptick in value over the past 24 hours, further bolstering its monthly gains to a remarkable 80%.
Renowned crypto analyst Ali Martinez took to Twitter to reveal intriguing insights, highlighting that Dogecoin whales have been on a buying spree, acquiring a staggering 25 million DOGE valued at $3.75 million within the last three days.
#Dogecoin whales have bought 25 million $DOGE in the past 72 hours, worth around $3.75 million! pic.twitter.com/y1RnRffWhv
— Ali (@ali_charts) March 21, 2024
Meanwhile, data from Intotheblock unveiled a significant surge in Dogecoin transactions exceeding $1 million, witnessing an unprecedented increase of over 600% in the past 30 days.
Dogecoin whales are active! The number of $DOGE transactions larger than $1 million increased by more than 600% in the last 30 days! pic.twitter.com/6yrgnta9Da
— IntoTheBlock (@intotheblock) March 21, 2024
This surge not only reflects a substantial uptick in activity but also marks the highest number of millionaire transactions in Dogecoin since its previous peak in May 2021, underscoring renewed interest and activity in the meme-inspired cryptocurrency.
This is not only a massive increase, but it also marks the highest number of Dogecoin millionaire transactions since the $DOGE top in May of 2021!
🔗https://t.co/hwMYFuDd11 pic.twitter.com/52t2lBvNVm— IntoTheBlock (@intotheblock) March 21, 2024
Coinbase Derivatives Files With The Commodity Futures Trading Commission
In another development, Coinbase Derivatives LLC quietly made a significant move by filing certifications with the Commodity Futures Trading Commission (CFTC) to list US-regulated futures contracts for Dogecoin, alongside Litecoin and Bitcoin Cash.
Coinbase Derivatives LLC quietly filed certifications with CFTC to list US regulated futures for Dogecoin, Litecoin and Bitcoin Cash.
They filed them on March 7 and surprisingly nobody seemed to notice.
Futures are set to start trading on April 1 if there are no objections from… pic.twitter.com/DYbWjuS6G2
— Summers (@SummersThings) March 20, 2024
Filed on March 7, these certifications flew under the radar, catching many by surprise. If approved, these futures contracts are slated to commence trading on April 1, pending any objections from the CFTC.
As Dogecoin continues to capture the attention of traders and investors alike, with whales accumulating and institutional interest growing, the cryptocurrency’s journey remains one to watch closely. With Coinbase’s potential foray into Dogecoin futures trading, the cryptocurrency landscape could witness further evolution, potentially opening new avenues for market participation and price discovery.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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