Main navigation

Whopping 8.779 Billion DOGE Moved, Here's What Happens to Price

Fri, 06/02/2023 - 14:22
article image
Yuri Molchan
Several massive transactions of Dogecoin have been spotted, moving more than 6 billion DOGE
Whopping 8.779 Billion DOGE Moved, Here's What Happens to Price
Cover image via

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.

Read U.TODAY on
Google News

Popular cryptocurrency tracking platform Whale Alert, which follows large crypto transactions, has shared that within the last 24 hours, anonymous wallets have transferred astounding amounts of the original meme coin, DOGE.

The transferred amount comes close to nine billion DOGE. Here's how the coin's price reacted to that.

Whales move almost nine billion DOGE

The stunning 8,779,999,992 Dogecoins were transferred in 10 massive transactions, according to the aforementioned tracker. Six of them carried a similar amount of 680,000,000 DOGE each, worth around $48,603,265.

Those were preceded by one transfer of 449,999,986 DOGE (the equivalent of $32,363,161), two transactions of 1,224,999,998 DOGE and one carrying 1,749,999,996 DOGE. This was almost nine billion Dogecoin in total, evaluated at $632,937,556, in accordance with the current exchange rate.

The size of these transactions and the fact that many of them moved identical sums of crypto may hint that those lumps might have been transferred by crypto exchanges internally.

Image via Twitter

DOGE price performance

Earlier today, just as the above-mentioned transactions were taking place, the popular meme coin DOGE — also favored by Elon Musk — demonstrated a rise of 1.38% over the past 24 hours.

This rise happened after the asset lost 3% since Tuesday, May 30. However, by now, the price has dropped a little and the meme coin is changing hands at $0.0719, losing 0.49% after the rise earlier today.

SHIB Burn Rate Soars 1,222% as Potential Shibarium Launch Draws Closer

Dogecoin massive activity surge

According to data shared by IntoTheBlock on-chain analytics company, Dogecoin has seen a staggering 8,220% increase in transaction activity. Daily DOGE transfers went ballistic from 25,000 to over two million last Saturday, the company's report says.

This sudden rise in transactions demonstrates a stunning contrast to the coin's recent poor price performance.

article image
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