Cryptocurrencies continue their decline without slowing down. On the other hand, whales do not give up on their purchases. Whale-watching platform WhaleStats has shared its latest major wallet movements. According to the platform’s data, the original meme coin, Dogecoin (DOGE), not SHIB, entered the list of coins with the highest trading volume.
DOGE, not SHIB, made it to the top 10 crypto list
According to WhaleStats, DOGE ranks 6th among the top ten cryptocurrencies by trading volume. At the same time, DOGE entered the top ten list of the most purchased cryptocurrencies by whales on the BNB Blockchain.
The website of the on-chain tracking service shows that DOGE currently contains 0.92% of the portfolio of BSC whales. The tokens corresponding to this rate are equivalent to 10,104,819 dollars. WhaleStats shared the following on its Twitter account:
DOGE is in the top 10 for trading volume among the 2,000 largest BSC whales in the last 24 hours.
Why does the Dogecoin price keep falling?
The crypto market continues to suffer heavy losses. In press time, the decline deepened even further. Leading crypto Bitcoin broke the psychological support of $ 20 thousand during the day. As you can follow from the news of Kriptokoin.com , most analysts stated that this level is very important. Moreover, they noted that if BTC breaks this support, it will slide to the bottom. Now that has happened and BTC is struggling to hold just above $18,000.
When the leading crypto receives deep wounds, altcoin projects follow. Therefore, SHIB rival DOGE is getting its share from this winter. At the time of this writing, DOGE is down 8.68% in the last 24 hours to $0.05168. DOGE hit an all-time high of $0.7376 about a year ago. Currently, the meme coin is down 93% from its peak.
The meme coin is also being pushed down by the overall market decline, with Bitcoin falling below $19,000 and Ethereum below $1,000. As you know, DOGE owes its reputation in the crypto market largely to Tesla CEO Elon Musk. So much so that Musk bought a Japanese Shiba Inu puppy inspired by Dogecoin. He also made DOGE pump a lot with his Twitter posts.
Now things seem to have turned around. Tesla boss Elon Musk, the biggest Dogecoin influencer, is facing a lawsuit. In the lawsuit in question, the plaintiff accuses Musk of promoting Dogecoin, which he describes as a Ponzi scheme. In addition, he asks Musk to stop promoting DOGE and pay him a total of $285 billion.
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