Dogecoin whales have been moving millions of dollars worth of DOGE ever since Elon Musk, the CEO of Tesla, decided to change the Twitter icon to the Dogecoin logo. Over $182 million worth of the largest meme coin was moved within a few hours this week amid its sudden surge in price.

"I made $1.1 million in 30 minutes on an $8 million total position size," A crypto trader who goes by "Tree of Alpha" on Twitter said.

In a series of tweets the pseudonymous cryptocurrency strategist Kaleo shared with their over 500,000 followers on the microblogging platform, they revealed that $DOGe has broken out above its high time-frame downtrend, and could be targeting the $0.25 mark, in a price rally that would more than double its current value of $0.097.

Bitcoin maximalist Jimmy Song has accused Elon Musk of pumping the price of Dogecoin (DOGE) for his own goals after the Tesla and Twitter CEO changed his Twitter icon to the DOGE logo. Song believes that Musk's move was a ploy to settle his financial obligations after acquiring Twitter, rather than a show of support for the asset. The price of DOGE climbed more than 22% in a matter of minutes after the logo change, bringing its market capitalization to the highest level since December 2022. Dogecoin has managed to retain the price acquired at the time of the icon update, currently changing hands at $0.10.

Dogecoin's derivatives market has become more active as prices rose following Twitter's decision to replace its blue bird logo with a Shiba Inu dog picture. Open interest in stablecoin-margined dogecoin futures contracts surged to almost 6 billion DOGE tokens, setting a lifetime peak of $600 million worth of dogecoin in unsettled futures positions. Coin-margined contracts on dogecoin saw over $55 million in total open interest. Stablecoin-margined contracts are better suited to risk-averse traders and for hedging, while coin-margined contracts are preferred by aggressive traders, especially during bull runs.

A recent analysis of Google search data has found that searches for the meme-inspired cryptocurrency Dogecoin ($DOGE) exploded nearly 2,000% in the past seven days after Twitter switched its logo to DOGE’s Shiba Inu, which led to a surge in buying interest.

According to recent stats from data aggregator Coimarketcap, Doge was able to beat Cardano to become 7th largest crypto in terms of market cap.

The coin has jumped by around 30% since the social media platform Twitter adopted its logo and its CEO began tweeting about it yesterday.

Dogecoin continued to trade close to a four-month high on Tuesday, following a 30% price surge to start the week. The rally came after Twitter changed its logo from the traditional blue bird, to a cartoon picture of Doge. Shiba inu was also higher, as it moved to a multi-week high.

Elon Musk's recent Twitter move, changing the page's logo icon to the Dogecoin avatar, has sent the price of Dogecoin (DOGE) surging by 30% in the last 24 hours. The 5th largest DOGE holder transferred 650 million Dogecoin (approx worth $61 million) just after the Twitter move, while an unknown whale address moved 300 million DOGE (approx worth $28 million) in a single transaction to an unknown wallet. DOGE has regained the much-anticipated 1 cent price level and is trading at an average price of $0.101, with a 24-hour trading volume of $4.83 billion and a market cap of $14 billion.

Bitcoin experienced a sharp price drop after rumors circulated on Twitter and a few crypto media outlets claiming that Binance CEO Changpeng Zhao was served with a Red Notice by Interpol, although he quickly denied the rumors. BTC experienced a drop driving it by over a grand lower to $27,200, but it bounced back to roughly $28,000 as of writing. Meanwhile, Dogecoin briefly exceeded $0.1 in another surge propelled by Elon Musk, while the other notable gainer from the larger-cap alts is Shiba Inu. The total crypto market cap has declined by $10 billion in a day and is now at $1.175T.

Dogecoin futures saw $26 million in liquidations in the past 24 hours, with both longs and shorts impacted almost equally. Traders on OKX were the most affected, taking on $12 million in losses on dogecoin futures positions.

Dogecoin's price surged as much as 30% on Monday, reaching an intraday high of around $0.1026, and its daily traded volume is up approximately 458% to stand at about $4.16 billion during the early Asian market on Tuesday.

Dogecoin's price surged as much as 30% on Monday, reaching an intraday high of around $0.1026, and its daily traded volume is up approximately 458% to stand at about $4.16 billion during the early Asian market on Tuesday.

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Dogecoin (DOGE) is higher by 25% over the past 24 hours after the Shiba Inu symbol representing the token replaced the familiar blue bird atop the Twitter homepage.

According to on-chain data from Santiment, Dogecoin whales have accumulated 1.47 billion DOGE worth $123.1 million since January 1, 2023. The Dogecoin Supply Distribution for wallets holding at least 10 million DOGE shows that these whales now hold almost 82% of the entire circulating supply of the meme coin. The whales' buying streak has coincided with some bullish momentum for Dogecoin, but year-to-date returns are only up 12%. The price may maintain current levels or even build up fresh upward momentum as long as the whales do not sell.