In the last few hours, a large transfer of over 112 million Dogecoin (DOGE), worth approximately $48.7 million, has been sent to cryptocurrency exchange Binance. DOGE was not alone in taking transactional profit, as investors take profit from market pressures involving the cryptocurrency and others.  In the meantime, Rexas Finance, a fast emerging blockchain project, is becoming a cause for concern as investors are looking at its unique tokenization platform. Anticipation is high that the RXS token will rise nearly, 19227% when it hits major exchanges. The shift means that DOGE whale holders are preparing to make huge profits out of the new asset tokenization frenzy.

Market Pressure Hits Dogecoin as Whale Moves Founds

Dogecoin (DOGE) has faced heavy market resistance in the last 24 hours after they have declined by 5.35% to open the day at $0.44. This is happening while the rest of the market is selling off as well, which has caused quite a spike in liquidations throughout the crypto space. The unattributed wallet sent almost 112 million DOGE to Binance, according to blockchain data tracker Whale Alert, which leads people to ponder whether a large volume of liquidation or strategic repositioning is taking place. Investors have expressed worry as a market wide profit taking trend has caused most large cap cryptocurrencies to bleed red. Dogecoin’s price decline is in tune with the general trend, but Dogecoin’s whale activity is a definite focus. Dogecoin’s large transactions increased by 41% in the last 24 hours, hinting large players are repositioning their portfolio, say, away from DOGE and to other promising ventures such as Rexas Finance.