According to Dogecoin blockchain explorer DogeChain, this huge whale just moved $973.010.200 worth of DOGE to two different wallets in a single transaction. The first wallet received 80 million DOGE worth $13,78 million while the second wallet collected 5,3 billion DOGE, equivalent to $913.09 million. At the time of writing, the 5,3 billion DOGE transfer has a status of “not yet redeemed” indicating that the transaction is incomplete.
Despite the transaction being worth hundreds of millions of dollars, this Dogecoin whale only spent 4,49 DOGE in transaction fees or $0,76 as of writing.
According to BitInfoCharts, the crypto whale that initiated the massive transfer was the second-largest Dogecoun wallet in existence prior to the transaction. The outbound transaction has brought the large wallet down to the 48th-biggest Dogecoin address since it currently holds more than 236 million DOGE worth approximately $40,8 million. The crypto investor holds 0,1785% of the total DOGE supply.
The whale’s movements come after the announcement of tech billionaire and Tesla CEO Elon Musk last week that the electric manufacturer would accept payments in DOGE for select merchandise. Although it is still unclear what items are available for purchase with Dogecoin, the DOGE price saw a sharp increase last week.
Just 2 hours after Musk’s announcement on Dec 14th, Dogecoin’s price has increased from $0,15 to $0,21, equivalent to 40%. DOGE has since stabilized and is now exchanging hands at $0,17, down 19% from its seven-day high of $0,21 and down 26% from its 30-day high of $0,23.