With just a few hours remaining until October begins, dog-themed coin Dogecoin (DOGE) is seeing a flurry of whale activity. Blockchain data tracker Whale Alert recently reported millions of Doge shifted to major crypto exchange, Coinbase.
A total of 196,799,056 DOGE were shifted in two transactions reported by Whale Alert. This was moved from unknown wallets to major crypto exchange Coinbase.
Whale Alert reported that 94,565,083 DOGE worth $21,714,279 and 102,233,973 DOGE worth $23,475,229 were transferred from unknown wallets to Coinbase.
Deposits to exchanges might indicate intent to sell, but other reasons might be likely. At press time, Dogecoin was trading down 0.55% in the last 24 hours to $0.23 and down 4.73% weekly.
“Uptober” arrives
October is deemed positive for markets, referred to as “Uptober” in crypto parlance. Analysts have shared a bullish outlook for the broader crypto market, despite last week’s sell-off and institutional outflow.
The next few weeks remain significant for spot crypto ETFs, with final SEC deadlines approaching on numerous filings. The SEC is expected to make its decision on Dogecoin ETF filings as well as those of other cryptocurrencies, including Solana, Litecoin, XRP, ADA and HBAR.
Bloomberg ETF analyst Eric Balchunas expressed similar expectation, writing in a tweet: “Who’s ready for Cointober? Spot crypto ETF Deadlines start this week! Litecoin and Solana up first. Should be a wild month.”
As reported, the SEC has asked issuers, including those of DOGE ETFs, to withdraw their 19b-4 filings following the approval of the generic listing standard, which according to Balchunas made the 19b-4 review clock irrelevant, shifting the approval process to S-1 registrations.
