990,000,000 Dogecoin Exchange Hands, DOGE Community Abuzz

According to data shared by the popular blockchain sleuth Whale Alert, just a few hours ago, it spotted a mind-blowing amount of the original meme cryptocurrency, Dogecoin, transferred between unregistered wallets.

In the meantime, the Dogecoin price is striving to break out of the range, with little success so far.

990 million DOGE on the move

In a recently published tweet, the aforementioned cryptocurrency tracker spread the word about a mammoth-sized amount of DOGE meme-inspired coins transferred from one anonymous blockchain address to another. An astounding 990,000,000 DOGE lump exchanged hands; this amount of meme coins was evaluated at an impressive $79,757,842 at the time it was made.

🚨 🚨 🚨 🚨 990,000,000 #DOGE (79,757,842 USD) transferred from unknown wallet to unknown wallethttps://t.co/Jtf8HzANTK

— Whale Alert (@whale_alert) January 16, 2024

Details provided by Whale Alert show that those were, in fact, 11 transactions, carrying 90,000,000 Dogecoin each, together amounting to 990,000,000 coins.

This is not the first time, however, when whales have moved such a breathtaking amount of Dogecoin. As covered by U.Today earlier, a massive billion Dogecoin were withdrawn from the Binance exchange on Jan. 9, and a similar amount of DOGE was transferred on Dec. 26.

Dogecoin community abuzz; DOGE price action

The 990 million meme coin transfer has triggered a heated discussion among the Dogecoin community in the comments under the tweet. DOGE users are wondering about the initiator and the receiver of the Dogecoin transfer, many suggesting that it may be a sign of an approaching DOGE dump.

Since Sunday, the original meme cryptocurrency Dogecoin has seen a decline of almost 5% as DOGE dropped from $0.0843 to the $0.0803 level. By now, the asset has demonstrated a marginal increase of 2%. Overall, the meme cryptocurrency is striving to break above the $0.0816 resistance level and move higher. Multiple attempts to do that since Sunday have been unsuccessful as DOGE keeps going back down after short-term rises.

During a recently recorded and published podcast, tech billionaire Elon Musk confessed that he remains a Dogecoin holder and has not sold his DOGE stash.

In light of the recent news about X securing enough licenses in the U.S. to launch a payment service, the DOGE community has begun wondering again if DOGE is going to be a part of the X app.

Musk has left this question without any clarification, though.