Whales continue transferring large amounts of Dogecoin (DOGE).
Dogecoin whales have continued to be active following the massive rally of the crypto asset’s price in the past few days. These investors have made some mind-boggling DOGE transfers this week as rumors are picking regarding Twitter Doge itegration.
Thanks to Whale Alert, a leading cryptocurrency tracking service, these large DOGE transfers are reported as they occur. According to Whale Alert, a total of 641,096,900 (641.09 million) DOGE were moved by Dogecoin whales in the past 24 hours.
Thirteen hours ago, 41,096,902 (41 million) DOGE was deposited to an address on Binance, the world’s leading cryptocurrency exchange by trading volume. At the time of the transaction, the fund was worth $5.55 million.
? 41,096,902 #DOGE (5,550,269 USD) transferred from unknown wallet to #Binancehttps://t.co/8ds8DCk92L
— Whale Alert (@whale_alert) November 1, 2022
An anonymous Dogecoin whale moved three hundred million units of DOGE ($41.56 million) to an unknown wallet.
The whale moved the funds in two transactions involving 150 million DOGE tokens.Â
? 150,000,000 #DOGE (20,759,343 USD) transferred from unknown wallet to unknown wallethttps://t.co/8jpd8rExgj
— Whale Alert (@whale_alert) November 1, 2022
? 150,000,000 #DOGE (20,759,343 USD) transferred from unknown wallet to unknown wallethttps://t.co/Hu6a25Pc7c
— Whale Alert (@whale_alert) November 1, 2022
Furthermore, Whale Alert tracked the movement of nearly 300 million DOGE tokens from one unknown address to another. The anonymous whale transferred 299,999,998 units of DOGE ($41.8 million) to an unknown address.
? 299,999,998 #DOGE (41,805,861 USD) transferred from unknown wallet to unknown wallethttps://t.co/RouREPyr3N
— Whale Alert (@whale_alert) November 1, 2022
Dogecoin Whale Activities Soar
The recent round of huge DOGE transfers indicates a surge in Dogecoin whale activity. Over the past week, large amounts of DOGE have been transferred by whales as they seek to take advantage of the asset’s price increase.
Many of these transactions involved whales depositing their DOGE to popular cryptocurrency exchanges. Sending cryptos to exchanges usually implies that the owner wants to sell or swap the asset class for other tokens.
As reported, 381 million DOGE were deposited to an address on Binance. A day before the development, 107 million DOGE were also transferred to Binance by an unknown whale.
Dogecoin whale activity will not end anytime soon, as more high-net-worth investors join the recent trend.
Earlier today, a Dogecoin address dormant for eight years and nine months transferred 2.37 million DOGE valued at $338k.
Data from BitInfoCharts show that the anonymous whale had accumulated DOGE from 2013 to March 2014.
DOGE Tipped to Merge With Twitter
Dogecoin has been having a good rally since last week following reports that Elon Musk has completed a $44 billion deal to acquire Twitter. The cryptocurrency is tipped by Cardano founder Charles Hoskinson to merge with the social media platform under the leadership of Musk. The world’s richest man also showed his love again for Doge by sharing a picture of a dog wearing a white shirt with the Twitter logo.
DOGE is changing hands at 13 cents, down 5% in the past 24 hours. Interestingly, the cryptocurrency has soared 123% in the past seven days.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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