The crypto community was abuzz as 990 million Dogecoin (DOGE), worth approximately $79.8 million, changed hands through 11 unidentified transactions. Blockchain tracker Whale Alert brought this staggering transfer to light, igniting heated discussions within the DOGE community and sparking speculation about potential market impacts.
Whale Alert revealed the colossal movement of 990 million DOGE, split into 11 transactions of 90 million DOGE each. This significant transfer adds to a series of notable DOGE transactions, including a withdrawal of one billion DOGE from Binance on January 9 and a similar transfer on December 26.
The frequency and scale of these movements have become a hot topic of intense interest and speculation in the crypto ecosystem. The ever-engaged DOGE community began debating the issue in the comment section of Whale Alert’s tweet.
Users are actively speculating about the motivations behind the massive transfer and whether it signals an impending DOGE market movement. The community’s curiosity extends to uncovering the identities of the initiator and recipient of this significant DOGE transfer, adding to the surrounding intrigue.
While the DOGE community examines the consequences of the 990 million DOGE transfer, the cryptocurrency’s price has experienced fluctuations. DOGE dropped by about 5% from $0.0843 to $0.0803 since Sunday, struggling to break above the $0.0816 resistance level despite several attempts. At the time of writing, Dogecoin is trading at $0.081.