Crypto Whales Abruptly Move Nearly $60,000,000 in Dogecoin and Shiba Inu – Here’s Where the Crypto Is Going

Crypto whales abruptly moved nearly $60 million worth of top memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) in a 24-hour period earlier this week.

The largest single transaction involved an unknown wallet sending 360 million DOGE worth more than $21 million to another unknown wallet, according to the blockchain tracker Whale Alert.

In terms of SHIB transactions, Whale Alert notes the crypto trading firm Jump Trading transferred more than 1 trillion SHIB worth nearly $7 million to an unknown wallet.

The other large memecoin transactions involved the retail trading giant Robinhood:

• 101,224,068 DOGE worth more than $6.2 million transferred from Robinhood to an unknown wallet
• 204,977,642 DOGE worth more than $12.6 million transferred from an unknown wallet to Robinhood
• 189,073,539 DOGE worth nearly $11.65 million transferred from Robinhood to an unknown wallet

Robinhood’s wallet is currently the second-richest Dogecoin address in the world, holding nearly $670 million worth of DOGE at time of writing, about 7.72% of the token’s circulating supply, according to BitInfoCharts.

The Robinhood wallet had been the largest in the world, but it transferred hundreds of millions of dollars worth of Dogecoin to an unknown address in early June. The receiving address became the richest Dogecoin wallet, and it remains unclear if it’s affiliated with the retail trading giant.

DOGE is trading at $0.062 at time of writing. The 9th-ranked crypto asset by market cap is up 0.38% in the past 24 hours while SHIB is trading at $0.000007, a 2.2% increase during the last day.

Generated Image: Midjourney