Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

90M DOGE Transferred In One Go As Dogecoin Trades Lower

Published 27/05/2022, 18:29
Updated 27/05/2022, 19:11
© Reuters 90M DOGE Transferred In One Go As Dogecoin Trades Lower

Over 90 million Dogecoin (CRYPTO: DOGE) were moved from multiple addresses to an unknown wallet in a single transaction earlier on Friday.

What Happened: The transaction processed on Thursday moved over 90 million Dogecoin from an unknown address to an unknown wallet for a total transfer value of over $7.1 million as of press time, according to transaction tracking service Clank.

See Also: How To Earn Free Crypto

This transaction was preceded by a 300 million Dogecoin transaction on Monday, which saw coins being moved from multiple addresses to an unknown wallet.

Dogecoin's on-chain activity levels have yet to return to usual levels after showing a higher than normal level of activity for an extended period due to market excitement and turmoil caused by Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk's attempt to acquire social media giant Twitter (NYSE: NYSE:TWTR) and the recent collapse of smart contract cryptocurrency Terra (CRYPTO: LUNA) and its TerraUSD (CRYPTO: UST) stablecoin.

DOGE Price Action: As of press time, Dogecoin is trading at $0.08309 after seeing its price increase by 4.4% over the last 24 hours.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.