A staggering quantity of DOGE was anonymously transferred; the majority was taken out of a prominent cryptocurrency exchange.
Prominent blockchain investigator Whale Alert has shared via multiple tweets that within the last day, DOGE whales have been quite busy in sending large quantities of meme currencies. A significant number of Dogecoin have been removed from the well-known trading program Robinhood. It occurred during the startling 19% collapse of the original meme cryptocurrency, leading many analysts to speculate that mysterious whales had purchased the drop.
Three significant transactions totaling 150,000,000, 100,000,000, and 74,024,901 DOGE have been found by Whale Alert. The smallest DOGE sum in this case was a deposit to that well-known trading site, whereas the first two enormous chunks of meme currency were taken out of Robinhood.
At the moment these transfers occurred, the 374 million Dogecoin chunk was valued at $55.8 million in fiat.
All told, 74 million DOGE were transferred to Robinhood, either with the intention of selling them or keeping them there for extended periods of time. As previously reported by U.Today, a significant DOGE contributor named Mishaboar declared on the X app that Robinhood's wallet accounts possess 30% of the total circulating supply, making them the largest single DOGE holders in the market. The platform is known to hold billions of DOGE on behalf of its users.
This week, between Thursday and Friday, the largest meme coin with a dog motif, DOGE, showed a sharp decline of about 19.5%. After two failed attempts at recovery, the coin has since pared some of its losses and increased by 6.71%. As of this writing, the price of Dogecoin is $0.1708 on the Binance exchange.
April 2024, Cryptoniteuae