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Data shared by public blockchain tracking platform Whale Alert revealed that recently anonymous transactions carrying hundreds of millions of dollars DOGE were detected. Some cryptocurrency enthusiasts in the comments believe that massive cryptocurrency dumping is happening.
These transactions coincided with a sharp drop in Dogecoin prices, with the meme coin printing a long red candle on an hourly chart.
816 million Dogecoin in motion
Whale Alert has become aware of anonymous crypto wallets moving two large lots of Dogecoin – 466,890,148 and 350,000,000 DOGE valued at $149,137,073 and $109,962,192 at the time these transactions were initiated.
These transfers took place in a time span of just over an hour, totaling over 816 million Dogecoins.
Details provided by Whale Alert revealed that the second and smallest transaction was made by a whale from seven blockchain addresses, transferring them to two different wallets.
As for the largest DOGE transfer, it was a cumulative transaction consisting of fifteen small transfers made from three different wallets.
Meanwhile, the price of the largest and first-ever meme cryptocurrency Dogecoin fell by 3.44% in the last two to three hours and then recovered slightly. As of this writing, DOGE is changing hands at $0.31077 after falling from the $0.32055 level.
Related
Elon Musk issues big DOGE adoption reminder
Saturday, the tech entrepreneur and richest man in the world Elon Musk commented on the potential creation of the Texas Institute of Technology and Science, jokingly called TITS. Elon Musk shared the idea that he would like to create such an institution in 2021.
He highlighted that tuition payments would be accepted in Dogecoin and dog owners would receive discounts. This weekend, Katherine Boyle, general partner at Andreessen Horowitz, tweeted that it was a good idea to start building this institution now.
She says it should be like the great military leadership academies: “1,000 of our best and brightest American engineers, selected on the basis of their test scores, PSAT and raw technical ability, with a fast track to the largest manufacturing and engineering companies in the world. country on the other side of graduation.
Elon Musk commented on this tweet, sharing his agreement and saying that maybe now is really the time to do it.