Riding on the back of Bitcoin’s surge to $41k, most coins from the space were having a green day on Thursday. The cumulative value of all the assets in the space rose by 4.3% on the daily window as the global crypto market cap reflected a value of $1.82 trillion.
The meme-market subset impulsively followed suit. Its market cap had inflated to $28.64 billion, up by 3.6% in the 24-hour timeframe. Also, the trading volume here had shot up by over 14% in the same period.
A ‘doge-worthy’ transaction
Contributing to the rise in numbers, a Dogecoin whale moved $29.6 million worth of coins recently. The funds were moved in a series of transactions, but have apparently not been sent to an exchange.
As per data from a Dogecoin blockchain explorer, the whale moved the funds several times before parking it in an unknown address. The whale’s OG transaction moving nearly 263 million DOGE cost it only $0.11—the price of one DOGE token—in fees.
Interestingly, this whale has chosen to transact at a time when other whales have resorted to remaining inert. As can be seen from ITB’s chart attached, the cumulative number of DOGE transactions surpassing $100k continue to hover around their 5 billion lows when compared to the 200 billion spikes registered back in January this year.
Despite most whales hibernating at the moment, DOGE’s price was up by 3%, to $0.117 in the day’s trade.