Dogecoin (DOGE) has experienced a bearish trend in the past 24 hours, with its price decreasing from an intra-day high of $0.424 to a low of $0.3668. Currently, DOGE is trading at $0.3934, marking a 6.15% decline from its 24-hour high.

Despite the dip, there has been significant activity from whales transferring large amounts of DOGE, totaling $56 million. This movement has sparked speculation around the potential for Dogecoin to rally to $3.

The article originally appeared on CoinGape, exploring the implications of this large-scale transfer and its potential impact on Dogecoin's price trajectory.