According to data released by prominent blockchain sleuth Whale Alert, which tracks large cryptocurrency transactions, nearly 500 million Dogecoin have been sent to two leading trading platforms with the likely goal of selling them. It happened amid the huge Dogecoin price surge that occurred this week.
According to data released by prominent blockchain sleuth Whale Alert, which tracks large cryptocurrency transactions, nearly 500 million Dogecoin have been sent to two leading trading platforms with the likely goal of selling them. It happened amid the huge Dogecoin price surge that occurred this week.
Prior to these two transactions, three large amounts of DOGE were withdrawn from the Robinhood investment platform.
680.9 million DOGE on the move
The aforementioned data source published announcements about five huge transactions, which transferred almost 681 million DOGE. The latter two brought 89,999,572 and 300,000,000 DOGE meme coins to two leading cryptocurrency trading hubs, Coinbase and Robinhood. These transfers were valued at $65.5 million in fiat money.
🚨 🚨 🚨 300,000,000 #DOGE (50,403,127 USD) transferred from an unknown wallet to #Robin Hoodhttps://t.co/dAvuSOIVWR
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Before that, Whale Alert recorded three more transactions. They carried 82,698,136; 70,081,079 and 138,326,037 Dogecoin. That was the cumulative equivalent of $48.7 million, and that amount of cryptocurrency was withdrawn from Robinhood to anonymous blockchain wallets, meaning purchases and transfers to cold storage wallets.
Dogecoin remains a topic of interest for crypto whales as it is one of the top 10 digital assets with wide adoption. Additionally, it has the support of tech billionaire Elon Musk, and many within the DOGE community are hopeful that Musk will integrate DOGE into X this year, once internal payments are launched.
Yuri MolchanDogecoin rises 12% in recent days
In recent days, the largest and oldest dog-themed cryptocurrency, Dogecoin, has printed a impressive price increase of over 12% as it skyrocketed from $0.1520 on Monday to $0.1716 today.
However, that immense growth was followed by a drop of over 3%, taking the price to the $0.1667 level.
