Dogecoin whales have been actively moving large amounts of the meme coin to new addresses amid the market’s downtrend.
On-chain tracking platform Whale Alert alerted the community to this massive Dogecoin exchange among whales. On December 30, it highlighted two eye-popping transactions worth a total of $260 million.
Whales are moving DOGE to new addresses
Data from Whale Alert shows that an unknown person whale The address moved 466,890,148 DOGE tokens to a new address at 1:13 p.m. (UTC) on Monday.
In particular, the sending wallet “DB24H3“transferred approximately $150 million worth of DOGE to an unknown receiving address,”DFRapC.”
The sender address emptied their Dogecoin supply into the new wallet and transferred the funds to the same wallet across multiple transactions. Meanwhile, the assets remain in the receiving wallet at the time of writing, neutralizing any skepticism the transaction may have raised in the Dogecoin community.
Another whale moves 350,000,000 DOGE
As curiosity grew among Dogecoin enthusiasts about the implications of the large-scale money movement, another whale wallet moved a similarly staggering amount. Whale warning too revealed the transaction in which an unidentified wallet transferred 350 million DOGE to a new wallet.
This second transaction occurred almost an hour after the first, specifically on December 30th at 2:06 p.m. (UTC). In the transaction hash “0abd62,“Address”DQhgaR“received 350,000,000 DOGE ($109.9 million) via 35 transactions from multiple sender addresses.
Meanwhile, the recipient address now holds 353.5 million DOGE (US$110 million), after 3.4…
