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Dogecoin Whale Transactions Spikes 148% After Tesla $DOGE Payments Announcement

Large transactions of the meme cryptocurrency Dogecoin ($DOGE) is seeing massive spike by 148%. Of course, this is coming after the CEO of electric car maker Tesla, Elon Musk announces the firm accepting DOGE payments.

Furthermore, data shows that Dogecoin records 148% increase in “large transactions,”. Which is of course, are transactions with values exceeding $100,000. Also, The transactions begins spiking immediately after Musk’s announcement.

Notably, Dogecoin whales is now moving funds on a recent announcement by a DOGE developer. Which reveals how they are managing to build the first non-fungible token (NFT). Of course, on the Dogecoin blockchain and then points out the transaction.

More so, The developer notes that on Dogecoin blockchain the cost to mint the NFT is only 0.01 DOGE. Currently, it equals to less than one cent. Also, The developer goes on to explain the minting process, usinh SHA-256 hash functions to mint the NFT. Then, also store it on a Checksum.

Additionally, Search interest for Dogecoin is seeing massive interest with 10,000% price rally earlier this year. That’s, from an average of 135,000 monthly searches in April 2020 to a massive 16.5 million in April 2021.

Lastly, just in this week, Tesla CEO Elon Musk declares his thoughts on Dogecoin, saying it’s better for transactions than Bitcoin.

Also, The CEO confirms further that Tesla is ready to start accepting Dogecoin payments for merch.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.