A Dogecoin whale has reportedly transferred over 103 million DOGE tokens from the Robinhood exchange. This comes amid the recent price uptick of the memecoin.
In a recent development, WhaleAlert, a blockchain tracker and analytic platform, has reported that it had spotted exactly 103,280,221 DOGE (worth $8.2 million) tokens moved from the Robinhood exchange to a wallet labeled “unknown.”
🚨 103,280,221 #DOGE (8,239,746 USD) transferred from #Robinhood to unknown wallethttps://t.co/DYaj5nSiiU
— Whale Alert (@whale_alert) November 16, 2023
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This represents one of the staggering amounts of DOGE that has been transferred between wallets this November. While several cryptocurrencies in the market are experiencing a price correction, Dogecoin is currently enjoying gains thanks to some mouth-watering transactions recorded this month.
Massive Dogecoin transactions in November
As previously stated, this is not the first time such a size of Dogecoin has been moved between wallets this month. The aforementioned tracking platform previously reported various staggering transactions involving the trending cryptocurrency.
On November 15, a massive transfer of 690 million DOGE (worth approximately $50.3 million) was made from one anonymous wallet to another. Furthermore, on November 13, 140.6 million Dogecoin was sent from Robinhood to an anonymous wallet.
In the same vein, on November 7, a substantial amount of DOGE, up to the tune of 250 million was transferred to the Robinhood exchange. In addition, two separate transfers of 75.3 million and 73.6 million DOGE were spotted moving from and to Robinhood.
Other reasons for the Dogecoin price surge
The recent growth in the value of DOGE can be attributed to recent news of a physical Dogecoin token being sent to the moon next month, December.
The space cargo transporter Astrobotic undertook this ambitious endeavor, which has raised expectations among investors and Dogecoin traders.
Dogecoin (DOGE) price today
According to live data from Coinstats, the price of Dogecoin today is $0.0800. This represents a 6.36% increase over the last 24 hours. Per the data, DOGE has a 24-hour trading volume of $1,265,218,770 ($1.2 billion) and a live market cap of $11,356,817,031 ($11.3 billion).
Ultimately, Dogecoin is ranked as the #9 largest cryptocurrency by market cap with a circulating volume of 141,857,636,384 (141 billion) DOGE.
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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 such as Coinfomania and Crypto News Guru, 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.