A well-funded crypto whale is moving $410 million worth of Dogecoin (DOGE) this week amid volatile crypto markets.
In total, more than $5 billion in DOGE was transferred in six separate transactions within about an hour on Thursday, according to blockchain tracking platform Whale Alert.
The transaction occurred as follows.
- 250,000,000 DOGE worth $20.9 was sent from an unknown wallet to another unknown wallet.
- An unknown wallet sent $33.7 million worth 399,999,999 DOGE to another unknown wallet.
- An unknown wallet sent $84.4 million worth 999,999,999 DOGE to another unknown wallet.
- An unknown wallet sent 499,999,999 DOGE worth $41.7 million to an 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 ninth-largest crypto asset by market capitalization hit a recent high of $0.1422 on Oct. 31, but is trading at $0.0869 at the time of writing, down nearly 40%.
DOGE’s price began to rise when tech billionaire Elon Musk, one of Dogecoin’s most prolific supporters, successfully acquired Twitter. DOGE supporters speculate that he may somehow integrate his DOGE into the social media giant. However, after that, the price of DOGE plummeted along with other cryptocurrency markets in the aftermath of the news of the collapse of the cryptocurrency exchange FTX.
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