A Dogecoin whale has carried out a significant transaction, moving a massive amount of DOGE tokens up to the tune of 1.6 billion to and from Binance and Coinbase. The mouthwatering transactions have raised speculations across the crypto community.
WhaleAlert, a blockchain large transaction tracker, has spotted some staggering Dogecoin transactions involving popular crypto exchanges Binance, Coinbase, and some ‘unknown wallets.’
According to the on-chain sleuth, these transactions worth tens of millions of dollars signify a surge in Dogecoin whale activities across the aforementioned platforms. These huge transactions come amid Dogecoins’ price increase over the past 24 hours. Per Coinstats data, DOGE has spiked by over 17% in the last day.
More than 1.6 billion DOGE sent to and from Binance and Coinbase
Over the weekend, Dogecoin whale activity skyrocketed with several large transactions recorded moving around Binance and Coinbase. 196.5 million DOGE tokens in total have been moved to and from the US-based exchange Coinbase. In the previous day, a large portion of the memecoin, about 60 million, was moved from there to an anonymous blockchain address and transferred to Coinbase via “an unknown wallet.”
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🚨 60,000,000 #DOGE (8,875,422 USD) transferred from #Coinbase to unknown wallethttps://t.co/zyaDzUhFB1
— Whale Alert (@whale_alert) March 4, 2024
The Binance exchange was involved in the remaining seven transactions. Over the weekend, an astounding 466 million DOGE tokens were withdrawn from Binance, the largest cryptocurrency exchange by trade volume into anonymous digital wallets.
600 million DOGE were moved to Binance, while 450 million were moved from an anonymous wallet to the Robinhood platform. These moves are remarkable. In total, more than 1.6 billion Dogecoin were moved.
🚨 🚨 🚨 🚨 600,000,000 #DOGE (83,651,499 USD) transferred from unknown wallet to #Binancehttps://t.co/7YN91aNXHq
— Whale Alert (@whale_alert) March 2, 2024
Dogecoin (DOGE) price reaction
After its last price rally, DOGE has had an amazing climb over the last two days. Most of the cryptocurrencies in the market are trading in the green zone as a result of the bullish sentiment among investors. Bitcoin, the leading cryptocurrency surpassed the $65,000 mark earlier today, moving closer to the all-time high of $69,000 attained in the fall of 2021.
According to data from Coinstats, Dogecoin (DOGE) is trading at $0.167, representing a 20% increase in the last 24 hours. What is more, DOGE has a 24-hour trading volume of $4.1 billion and a live market cap of $24 billion.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.