Dogecoin Whales Reduce Holdings As Price Doubles; Arthur Hayes Invests In $PENDLE And $DOGE

Dogecoin (DOGE) whales have significantly reduced their positions over the past year. According to the latest analysis by @intotheblock, the largest DOGE holders have cut their share from 45.3% to 41.3%.

Despite this reduction, DOGE has nearly doubled in price within the last 12 months, rising from $0.062 to $0.122.

Hayes’ Wallets Acquires Massive 92,339 PENDLE Tokens

In a related development, Arthur Hayes, founder of BitMex, recently announced via Twitter that he is adding $PENDLE and $DOGE to his investment portfolio. Following this announcement, one of Hayes’ wallets made a substantial purchase of 92,339.6 PENDLE tokens, valued at $554,000, through Wintermute.

Hayes transferred 2.05 million USDC to Wintermute and subsequently received 280 ETH, worth $1 million, and 92,339.6 PENDLE tokens. This move underscores Hayes’ confidence in the potential of these cryptocurrencies.

The strategic decisions by both the Dogecoin whales and Arthur Hayes highlight the dynamic nature of the cryptocurrency market, where major players continually adjust their positions in response to market trends and opportunities.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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