A substantial transaction involving Dogecoin (DOGE) was recently recorded. A significant amount of 59.9 million DOGE, equivalent to approximately $5 million, was transferred from an unidentified wallet to Coinbase, the well-known American cryptocurrency exchange.
A substantial transaction involving Dogecoin (DOGE) was recently recorded. A significant amount of 59.9 million DOGE, equivalent to approximately $5 million, was transferred from an unidentified wallet to Coinbase, the well-known American cryptocurrency exchange.
A series of important transfers
This transaction represents a pattern in the Dogecoin ecosystem, where there has recently been an increase in high-value DOGE transfers.
For example, on December 29, a transaction of 65.1 million DOGE, valued at about $5.89 million, was transferred to Coinbase from an unknown source.
Other major transfers include 230 million DOGE to Robinhood, worth approximately $21.61 million, and a huge transfer of nearly one billion DOGE, valued at $91.2 million, from Binance to an undisclosed wallet .
These substantial moves have sparked a mix of intrigue and speculation within the crypto community about the potential impact on the market and the motives behind these transfers.
Low volatility
Amid these high-volume transactions, Dogecoin market behavior has remained fairly stable, according to data provided by the cryptocurrency tracking website. CoinGecko.
At the time of this publication, Dogecoin is the 11th largest cryptocurrency by market cap, trading at $0.089425, down a small 0.7%.
The 24-hour trading volume for DOGE is approximately $347.8 million and its market capitalization is $12.74 billion. The price of the coin has seen modest fluctuations, with a 24-hour high of $0.090851 and a low of $0.088825.