Deep-pocketed crypto whales are moving over $410 million worth of Dogecoin (DOGE) amid a volatile crypto market this week.
According to the blockchain-tracking platform Whale Alert, within about an hour on Thursday, more than a total of 5 billion DOGE were transferred across six separate transactions.
The transactions occurred as follows:
- An unknown wallet sent 250,000,000 DOGE worth $20.9 another unknown wallet.
- An unknown wallet sent 399,999,999 DOGE worth $33.7 million to another unknown wallet.
- An unknown wallet sent 999,999,999 DOGE worth $84.4 million to another unknown wallet.
- An unknown wallet sent 499,999,999 DOGE worth $41.7 million to unknown wallet.
- An unknown wallet sent 1,999,999,999 DOGE worth $161.1 million to another unknown wallet.
- An unknown wallet sent 899,999,999 DOGE worth $73 million to another unknown wallet.
The 9th-ranked crypto asset by market cap reached a recent high on Oct. 31 at $0.1422 but is trading at $0.0869 at time of writing, a nearly 40% decline in price.
DOGE’s price had begun to rally when tech billionaire Elon Musk, one of Dogecoin’s most prolific supporters, began to successfully take over Twitter. DOGE supporters speculate he may integrate DOGE into the social media giant in some capacity. But the price of DOGE later plummeted along with the rest of the crypto market amid the fallout from the news of the collapse of crypto exchange FTX.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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