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Dogecoin Whales Accumulate as Musk's Twitter Rebranding Pushes DOGE to Green Indexes

Elon Musk's rebranding of Twitter to "X" has caused several crypto tokens to rally, including his favorite meme crypto, Dogecoin (DOGE). Despite a massive sell-off in the global digital asset market on Monday, DOGE performed a decoupling event and registered green indexes, surging by almost 5% in the last 24 hours.

DOGE whales have been accumulating the crypto over the last three weeks, scooping up around 3 billion Dogecoins (worth approximately $225 million), leading to a surge of more than 12% in the last 30 days. Elon Musk's support for DOGE, including replacing the Twitter logo with the Dogecoin logo, is driving the token ahead, and it remains to be seen if he will announce any new plans to utilize DOGE on X.com.

Dogecoin Dogecoin $0.37
-12.03%
Elon Musk Dogecoin
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