A deep-pocketed Dogecoin (DOGE) investor is suddenly shifting hundreds of millions of DOGE across multiple transactions as the meme asset surges in price.
New data from whale-surveying platform Whale Alert reveals that the high-net-worth trader abruptly moved 350,000,000 DOGE, worth $26,581,455 at the time of its movement, from one unknown crypto wallet to another.
According to the blockchain search engine Blockchair, the fee to move the millions of tokens cost just 4.16 DOGE, or $0.31. The blockchain tracker also finds that the whale sent the crypto over 11 separate transactions.
Last week, the team behind Dogecoin announced they would be updating the project as a means of making it easier to develop.
At the time, DOGE developer Michi Lumin said they would be adding support for QR codes, other languages, message signing and Windows-enabled programs.
According to Lumin, the update will also patch up many of the prominent issues Dogecoin developers have been running into, such as memory integrity checks, truncation fixes and length checks for edge cases.
DOGE has been on a tear this week, surging as it went from its seven-day low of $0.0723 to a peak of $0.0768, a 6.2% increase.
It has since stabilized and is moving for $0.0749 at time of writing.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxGenerated Image: DALLE-2