1,000,000,000 DOGE In Past Five Hours As Price Crashes 25%

Massive Dogecoin Transfers and Crypto Market Turmoil

Data from Whale Alert, a blockchain sleuth that tracks large cryptocurrency movements, indicates that over 1.2 billion DOGE tokens have been transferred within the past day.

These significant transactions involved anonymous wallets and the cryptocurrency exchange Binance. They coincided with a substantial crypto market decline, resulting in multi-billion dollar losses.

1.2 Billion DOGE Transfer Stuns Crypto Community

Whale Alert reported two major Dogecoin transfers totaling over 1.2 billion coins.

The largest transfer, consisting of 800 million DOGE, was valued at $200.67 million and sent between anonymous wallets. The community speculates about its purpose, possibly related to Grayscale's recent launch of a Dogecoin Trust.

A separate transfer of 200 million DOGE was sent from an unknown wallet to Binance, suggesting a potential sale.

Additional DOGE Transfers to Coinbase

Whale Alert also detected two consecutive transfers of 104,125,016 DOGE each to the US cryptocurrency exchange Coinbase, totaling over $65 million.

Dogecoin Price Plunge

Amidst these transfers, the price of Dogecoin (DOGE) plummeted by over 25% since Sunday. It has since rebounded slightly, but remains significantly lower than its pre-crash levels.

Broader Market Turmoil

The Dogecoin price decline is part of a broader market downturn. Bitcoin (BTC) dropped by approximately 8.37%, hitting the $92,800 zone. The sell-off is attributed to the US government's imposition of tariffs on imports from Mexico, Canada, and China.