Recent data from Whale Alert, a platform that monitors large cryptocurrency transactions, reveals that affluent Dogecoin (DOGE) traders have transferred approximately $340 million in value of the popular meme-based cryptocurrency within the past 24 hours.
Among the seven significant transactions tracked by Whale Alert, all of which share similar characteristics, only one fell below the $48 million threshold.
The first set of transactions consisted of six transfers on the Dogecoin network, totaling 3,758,651,596 DOGE, which is equivalent to $227.7 million. Notably, these transfers took place in close proximity to each other, some even occurring simultaneously. Analysis of the blockchain data suggests that a single whale or a group of whales may be behind these transactions, as there is a consistent sender and receiver involved.
In the second set of transactions, there were seven transfers between wallets whose owners remain unidentified. Each transfer involved a substantial amount of 800,000,000 DOGE. In total, these transactions accounted for an impressive 5,600,000,000 DOGE, which translates to $340 million.
