Investing.com UK - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

$930K Dogecoin Moved To Mysterious Wallet After Musk Steps Down As Twitter Chief

Published 12/05/2023, 11:52
Updated 12/05/2023, 13:10
© Reuters. $930K Dogecoin Moved To Mysterious Wallet After Musk Steps Down As Twitter Chief

Benzinga - A Dogecoin (CRYPTO: DOGE) whale has moved over $927,413 worth of the meme coin from multiple addresses to a mysterious wallet.

What Happened: According to data from DogeChain, 13,501,212 DOGE was transferred with a mere transaction fee of 3.6 DOGE, which amounts to roughly $0.20.

This move occurred amid the news of tech billionaire Elon Musk stepping down as CEO of Twitter. Although Musk did not disclose who he appointed as his replacement, he did mention that a woman would join Twitter in six weeks as he transitions to Twitter’s CTO, overseeing the company’s product, software, and sysops divisions.

See More:The Art Of The Future: Lisa Ray’s TheUpsideSpace Bring NFTs To Center Stage

Why It Matters: DOGE's price saw a decline of 3% since the announcement of Musk’s plan to appoint a new CEO. At the time of writing, DOGE was trading at $0.070.

Pseudonymous crypto analyst, The Wise Guy, believes that Musk's announcement of new CEO could be “bad news” for DOGE. “This news could increase sell pressure on the coin, leading to a further drop in its value.”

Read More: Bitcoin, Ethereum, Dogecoin Drop Despite Mildly Upbeat Jobs Report, Price Data: Analyst Sees Elon Musk Stepping Down As Twitter CEO ‘Bad News’ For DOGE

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
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.