Santiment data shared by cryptocurrency analyst and trader Ali Martinez has revealed that over the past two days, an enormous amount of meme coins (DOGE) has been accumulated by crypto whales.
Adding to that, a tweet published by blockchain sleuth Whale Alert on Thursday showed that another big DOGE batch was transferred to the world’s largest crypto exchange Binance. Following these movements, the Dogecoin community today witnessed a curious move from the world’s biggest DOGE lover Elon Musk.
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210 million Dogecoin shoveled by whales
According to the chart provided by the on-chain data aggregator Santiment, over the past 48 hours, cryptocurrency whales have acquired 110,000,000 DOGE
An X handle of the Alva app that provides AI assistance with crypto commented on Martinez’s post, saying that the accumulation of as much as 110 million Dogecoin might signify “a potential nod to market confidence” and could further spark bullish price movement, at the same time easing the selling pressure on DOGE.
Whales bought 110 million #Dogecoin $DOGE in the last 48 hours! pic.twitter.com/bwMiGNW0gp
— Ali (@ali_charts) February 21, 2025According to Whale Alert, on February 20, an anonymous whale transferred a massive 100,000,000 DOGE to the largest cryptocurrency exchange in the world – Binance. That was the equivalent of $25,421,462 in fiat.
🚨 🚨 100,000,000 #DOGE (25,421,462 USD) transferred from unknown wallet to #Binancehttps://t.co/eiecOEVUsN
— Whale Alert (@whale_alert) February 20, 2025Data shared by the Blockchair explorer shared that the wallet from which the transaction was made currently holds 139,907,982 DOGE worth $35,763,278.
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Elon Musk ignites community with "DogeFather" tweet
Earlier today, Dogecoin fan and tech mogul Elon Musk took to his X account to publish a photo of himself wielding a chainsaw presented to him by Argentine president Javier Milei. Musk jestingly stated that this was a chainsaw against American bureaucracy and posed with it in front of an audience.
He added his self-taken nickname “The DogeFather” in the back of the photo. For the first time, he called himself that in April 2021 before he debuted in the popular American TV show Saturday Night Live, where he endorsed Dogecoin (DOGE).
This is a real picture pic.twitter.com/HFSxrpbiju
— Elon Musk (@elonmusk) February 20, 2025However, this time he was likely referring not to the meme coin but to the Department Of Government Efficiency spearheaded by him which makes audits of various US governmental organizations in an attempt to cut down US governmental spending. The D.O.G.E. has already shut down the USAID program which sponsored various governments and organizations outside the USA.
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