In a startling turn of events within the Dogecoin community, a staggering 400 million DOGE tokens have vanished without a trace, leaving experts puzzled and investors on edge. The abrupt disappearance unfolded in a series of mysterious transactions between unknown wallets, prompting a flurry of speculation and concern within the DOGE community.
Denys SerhiichukAccording to insights shared by Whale Alert, a whopping 400 million DOGE tokens were swiftly transferred between undisclosed wallets, marking a significant and unexpected shift in the digital currency landscape. However, a deeper dive into on-chain explorer data unveiled an even larger transfer, totaling 512.68 million tokens, valued at approximately $43.39 million.
What adds to the intrigue is the elusive nature of the wallets involved. All addresses participating in this enigmatic transfer, encompassing over half a billion Dogecoins, are fresh on the scene, devoid of any prior transaction history.
Dogecoin miners hit pause
This sudden disappearance coincides with a curious trend emerging among Dogecoin miners. Recent data from IntoTheBlock reveals a notable decrease in sell-offs by miners, with net outflows plummeting from 19.44 million to 7.27 million DOGE in the past 24 hours.
While outflows persist, the diminishing magnitude hints at a potential shift in miner behavior.
Tomiwabold OlajideCurrently, Dogecoin miners collectively hold reserves estimated at 4.16 billion DOGE, valued at $354.86 million. Amid these developments, the community remains abuzz with speculation and intrigue, as the whereabouts of the 400 million DOGE continue to elude scrutiny.
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team