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.
Risk Warning: Cryptocurrency and NFT trading can be volatile and carries a certain degree of risk. Please remember to be mindful of the potential risks involved. CryptoNormie.com does not accept any liability or responsibility for any losses resulting from trading or buying/selling any tokens/coins or digital art/products mentioned on the website or social media. This article is not sponsored or advertised. DYOR before investing in any asset we write about. Thank you.
Crypto investors refer to people who still think with a traditional mindset and as a result have decided to stay out of the crypto market as “normies”. We are here to change that. CryptoNormie.com offers cryptocurrency, NFT and metaverse news with special category for new token listings. Follow us on social media to stay updated!