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Dogecoin has seen significant whale activity in the last 24 hours, with a recent 300,000,003 DOGE move catching the attention of the market.
Blockchain data tracker Whale Alert, in recent hours, reported a mystery move of 300,000,003 DOGE worth $55,435,493 between unknown wallets.
Whale Alert reported: "300,000,003 DOGE worth $55,435,493 transferred from unknown wallet to unknown wallet."
The identity of the wallets remains unknown, as is the reason for the transfer. The transfer coincides with Dogecoin's drop to a low of $0.176 this week.
At press time, DOGE was down 2.08% in the last 24 hours to $0.185, and down 6.06% weekly.
Dogecoin price
Dogecoin fell for four straight days since the start of the week, falling from a high of $0.2095 on Monday to a low of $0.176 on Thursday.
Dogecoin broke below key $0.1940 support during Tuesday’s session, extending its slide as investors weighed macroeconomic concerns.
Yesterday's sharp drop to a low of $0.176 came amid a broader market crash, which saw $1.14 billion in liquidations at one point.
The Federal Reserve's 25-basis-point rate cut was followed by cautious remarks from Chair Jerome Powell, impacting market optimism.
As anticipated, the Federal Reserve delivered a widely expected 25-basis-point rate cut on Wednesday, only for Chair Jerome Powell to dampen optimism with cautious comments suggesting December’s rate cut is not guaranteed.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team