Benzinga | Jan 21, 2022 09:42AM EST

Dogecoin Is Now The Most Traded Token Among 1,000 Largest Binance Chain Whales

Meme-based cryptocurrency Dogecoin (CRYPTO: DOGE) was the most traded cryptocurrency token among the wealthiest Binance Smart Chain (BSC) whales in the past 24 hours.

What Happened: According to an update from wallet tracker WhaleStats, DOGE was the most traded among the 1,000 largest BSC whales.

The top 1,000 BSC whales now hold a total of $46,618,831 DOGE, according to WhaleStats estimates.

DOGE was trading at a price of $0.15 as of Friday morning, down by 8% in the last 24 hours. The meme-based cryptocurrency's negative price action was part of a wider crypto market selloff during Asian hours.

See Also: Is Bitcoin At the Mercy Of The Stock Market After Falling Below The $40K Level? Here's What Experts Are Saying

Bitcoin (CRYPTO: BTC) fell under the $40,000 mark and the majority of altcoins followed the leading crypto asset's decline. According to data from IntoTheBlock, DOGE has a significantly high correction of 0.7 with BTC.

At press time, DOGE's volatility over a 30-day period stood at 78.94%.

What Else: Earlier this month, DOGE enjoyed some positive price action as Tesla Inc (NASDAQ:TSLA) began accepting DOGE for payments.

Merchandise such as the belt buckle was listed for 835 DOGE, Cyberquad for Kids for 12020 DOGE, and Cyberwhistle for 300 DOGE.