Significant amounts of Dogecoin (DOGE) have been transferred by wealthy crypto investors following a rebound in the memecoin’s value. Whale Alert, a blockchain-monitoring platform, detected several large DOGE transactions totaling 776,351,068 DOGE, equivalent to $48.47 million.
One notable transaction involved a crypto whale transferring 308,390,532 DOGE worth $19.22 million from Binance to an unidentified wallet. Another whale moved 253,419,377 DOGE, valued at $16.05 million, from Robinhood to an unknown wallet. Additionally, a large Dogecoin holder relocated 129,673,539 DOGE worth $7.90 million from Robinhood to an unidentified wallet. Furthermore, 84,867,620 DOGE, valued at $5.30 million, was observed moving from an unknown wallet to Robinhood, potentially for sale on the open market.
These significant movements of Dogecoin coincide with the memecoin’s attempt to recover from a recent market downturn. On August 18th, Dogecoin reached a monthly low of $0.059 during the broader cryptocurrency sell-off. However, since then, DOGE has experienced a bounce and is currently trading at $0.064.
Source: THE DAILY HODL
