A Dogecoin (DOGE) whale recently sold a lot of their coins to make a profit. This has made the price of DOGE go down.
Whale Sells 86 Million DOGE
The whale moved 86 million DOGE to the crypto exchange Robinhood to sell them. They probably did this because the price of DOGE had been going up recently.
Whale Still Bullish on DOGE
Even though the whale sold some DOGE, they still bought back a lot of it and still own a lot. This shows that they are still positive about DOGE in the long run.
Price of DOGE Drops
Because the whale sold so much DOGE, the price has gone down and is now trending downward.
Other Meme Coins Affected
This wave of profit-taking has also affected other meme coins like Shiba Inu (SHIB) and PEPE, which have both dropped in price recently.
Solana-Based Meme Coins Rise
While other meme coins have been falling, Solana-based meme coins like Book of Meme (BOME) have been doing well and have seen their prices rise.
More Profit-Taking by Meme Coin Traders
Other crypto traders have also been making millions of dollars by selling their SHIB investments. One trader bought SHIB for $16 million and sold it for $39 million, making a profit of $23.5 million.
Smart Traders Take Profits
Smart traders, like Rune Christensen, have also been taking profits from SHIB, which has contributed to its price drop.
