Crypto whales are moving hundreds of millions of Dogecoin (DOGE) tokens as the popular dog-themed digital asset sees a bounce in price.
According to DOGE whale tracker Dogecoin Whale Alert, which compiles data from Dogecoin blockchain explorer DogeChain, deep-pocketed crypto traders are shifting tens of millions of dollars worth of the meme asset as its price rises.
The data reveals that overall, more than 315 million DOGE tokens worth about $27 million were transferred by high-net-worth investors, the biggest being a 100 million DOGE ($8.8 million) relocation from a top-20 wallet to an unknown wallet.
Other notable transactions on the Dogecoin whale-watching platform’s radar include:
- 32,943,596 DOGE worth $2.90 million transferred from a top-20 wallet to a top 20 wallet.
- 39,556,733 DOGE worth $3.45 million transferred from multiple wallets to an unknown wallet.
- 25,942,981 DOGE worth $2.28 million transferred from multiple wallets to an unknown wallet.
- 50,000,000 DOGE worth $4.41 million transferred from a top-20 wallet to an unknown wallet.
- 25,786,624 DOGE worth $2.27 million transferred from multiple wallets to an unknown wallet.
- 12,708,780 DOGE worth $1.10 million transferred from multiple wallets to an unknown wallet.
- 28,731,029 DOGE worth $2.56 million transferred from multiple wallets to an unknown wallet.
The whale-watching platform also reveals the amount of Dogecoin trading giant Robinhood is holding on behalf of its customers. It finds that 24.29% of the meme asset’s current circulating supply, or 33,562,118,360 DOGE worth $2.91 billion, is held by the prominent trading app.
Dogecoin is trading for $0.088 at time of writing, a 10% increase from its seven-day low of $0.80.
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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 loses 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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Source: https://dailyhodl.com/2023/02/20/dogecoin-whales-move-315669743-doge-worth-over-27000000-as-top-meme-coin-bounces/