1,000,000,000 DOGE In Past Five Hours As Price Crashes 25%
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Data shared by Whale Alert blockchain sleuth, which monitors large cryptocurrency transfers and then shares the details on its website and X account, spreads the word that over the past three hours, a staggering amount of DOGE meme coins have changed hands.
Those two huge transactions were made between anonymous wallets with the participation of the world’s largest crypto exchange, Binance. Those transfers took place as a massive multi-billion U.S. dollar crypto bloodbath was unleashed.
1.2 billion DOGE transfer stuns community
The aforementioned data source revealed two transfers that shoveled tremendous amounts of Dogecoin – totaling more than 1.2 billion meme coins.
The largest ones, which were sent over the past five hours, carried 800,000,000 DOGE and 200,000,000 DOGE valued at $200,665,710 and $49,942,237. The community was bewildered by the massive 800 million Dogecoin transfer, making guesses as to its nature and goal.
An X user suggested that it might be related to Grayscale as it launched a Dogecoin Trust last week, pleasing the meme coin’s community. While the 800 million coin transfer was made between anonymous blockchain addresses, the 200 million DOGE transaction was specifically sent from an unknown wallet to the world’s largest centralized cryptocurrency exchange, Binance, with a likely goal of selling this meme coin batch.
The other two consecutive transfers were detected by Whale Alert on Sunday, and they targeted the biggest U.S.-based crypto trading platform, Coinbase: 104,125,016 DOGE were sent to that exchange twice. Each of these transfers carried the equivalent of $32,601,617.
Yuri MolchanDogecoin price crashes 25%
Meanwhile, the price of the largest and earliest meme cryptocurrency, DOGE, faced a massive decline of more than 25% since Sunday, dropping from $0.29787 to $0.22184. By now, Dogecoin has rebounded a little, adding 14.12% and changing hands at $0.25364.
The DOGE price collapse came during the bloodbath that was unleashed on the cryptocurrency market over the weekend. The amount of liquidations in the past day has surpassed a mind-boggling $2.2 billion.
The world’s leading cryptocurrency, Bitcoin, tanked by roughly 8.37%, going down from $101,298 to hit the $92,800 zone. The massive sell-off took place after the U.S. government imposed a large 25% tariff on the import of goods from Mexico and Canada and 10% for Chinese imports unleashing what many refer to as a trade war.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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