Unidentified Whale Transfers $396.8 Million Worth of Dogecoin (DOGE)
A significant amount of Dogecoin (DOGE) was transferred by a prominent holder to another prominent wallet on Monday, totaling over $396.8 million in value.
In a swift sequence of transactions that took place within a span of fewer than 10 minutes on Monday afternoon, the unidentified holder moved a total of 5.44 billion DOGE. BitInfoCharts, a cryptocurrency data website, reported these details BitInfoCharts.
As a result of these transactions, the receiving wallet swiftly rose from being the fifth-largest Dogecoin address globally at the beginning of the week to becoming the second-largest at the time of this writing. The wallet currently possesses approximately 8.84 billion DOGE, which is valued at over $643 million.
Conversely, the sending wallet dropped in rank from being one of the top 10 addresses to the 19th-largest wallet following the seven transactions. However, it has since returned to the fifth spot after receiving an additional 5.46 billion Dogecoins in two separate transactions on Tuesday morning.
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Presently, the sending holder holds around 6.27 billion DOGE, valued at over $456 million, according to BitInfoCharts.
The wallet with the highest DOGE holdings in the world belongs to Robinhood, which currently possesses around 22.6 billion DOGE, equivalent to over $1.6 billion. This constitutes approximately 16.23% of the total supply of Dogecoin and places Robinhood as the wealthiest DOGE holder.
At the time of writing, DOGE is trading at nearly $0.0704, experiencing a decrease of 3% in the past 24 hours. It ranks ninth among cryptocurrencies based on market capitalization.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
