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400 Million DOGE Moved to Binance in One Hour, Here's What's Happening

Fri, 10/28/2022 - 15:15
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Yuri Molchan
Slightly over 400 million Dogecoin shifted from top 20 wallet to Binance consecutively
400 Million DOGE Moved to Binance in One Hour, Here's What's Happening
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As per recent tweets of @DogeWhaleAlert tracker, four hours ago, anonymous top 20 wallet DJfU2p6woQ9GiBdiXsWZWJnJ9uDdZfSSNC shifted two Dogecoin lumps to the Binance exchange.

Those transfers carried 286,953,266 and 114,010,343 DOGE, making it 400.1 million meme coins in total.

400 million DOGE moved to Binance wallet

Both transfers were made four hours ago, one after the other. The sending wallet is now holding 476,335,246 Dogecoin, with a total amount of 2,800,899,543,466 Doge sent and 2,801,375,878,712 meme coins received.

On Oct. 27, the price of the largest meme coin by market cap began to rise on the news of Elon Musk's plans to complete the Twitter purchase deal by Friday. The DOGE army had been expecting that Musk would implement Dogecoin payments on Twitter.

However, when the fact of the Tesla boss taking over Twitter was officially confirmed by mainstream media, DOGE started dropping heavily.

Earlier today, however, the meme coin resumed growth, printing a massive green candle on the hourly chart.

Related
1.3 Trillion SHIB Moved in 858 and 420 Billion Lumps, Here's What's Happening

Elon Musk increases adoption of DOGE

Recently, Musk launched a completely new product for himself – a perfume called "Burnt Hair" – which costs $104 per bottle and is rather a collector's item. It was made by Musk's The Boring Company and, thanks to a partnership with BitPay, users were able to buy the perfume for Dogecoin, Shiba Inu, Bitcoin and a dozen other coins.

At the start of the year, Tesla began selling its merchandise for DOGE, with SpaceX following it in the spring.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.