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Biggest BNB Whales Buy DOGE Massively
According to a crypto analytic firm that observes the transactions in a number of the biggest wallets on BNB Chain, Dogecoin is current among the top ten cryptos purchased by BNB whales in massive quantities.
The source continued that BNB, BabyDoge, USDC and a few others made it to the list. During the time of the press, the BNB whales possess a quantity of DOGE worth about $27,439,092 in their wallets. The quantity is equivalent to about 1.94% of their cumulative portfolio.
Dogecoin earlier faced a price downtrend as its profitability dropped to below 50% at the beginning of this month. However, its profitability has recently recuperated to 53% according to a crypto news source.
DOGE Co-Owner Makes Salient Statements
Billy Markus, the co-owner of Dogecoin crypto network tweeted an important post on his twitter handle. In his post, he revealed that the current position of DOGE is somewhat connected to him.
He explained further that he has stopped working on the memecoin for about eight years ago. He added that he has no intention of reverting his decision by starting work on it again. He said this irrespective of his stand as one if the biggest advocate of Dogecoin.
Even though his decision was met with disapproval from colleagues, he maintains his stand. He claims to be illustrating the true aim of decentralization.
Report shows that the Dogecoin network is not the most complex network in terms of technology. However, it still maintains a steady growth with an active leader.
A popular crypto whale tagged “Shibetoshi Nakamoto” once described what a crypto market is in his opinion. He said the crypto industry revolves round panic, FOMO and some other crypto terms. He added that it is enticing to think in one’s mind that the nature of human goes hand in hand with money.
Markus is no longer one of the overseers of the memecoin project. However, he still believes that the speculations around the firm are good for its growth. He continued that the main target of the team behind the project should be Utility. They should develop good use cases to maintain the project’s relevance now and in the future.
While commenting on the drop in DOGE price, the memecoin co-founder said he has nothing to say on it. The struggles in the Dogecoin’s ecosystem is a direct consequence of the 85% loss in value that the coin has incurred recently.
Amidst the massive downtrend, the coin continuously dives with no signal of a possible recovery. Furthermore, for about 200 days now, it continued to depreciate in market value. It is now rated among the least performing cryptos in the market.
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