Price: $0.38332 0.3777%
Market Cap: 56.31B 1.7268%
Volume (24h): 8.07B 0.4%
Dominance: 1.7268%
Price: $0.38332 0.3777%
Market Cap: 56.31B 1.7268%
Volume (24h): 8.07B 0.4%
Dominance: 1.7268% 1.7268%
  • Price: $0.38332 0.3777%
  • Market Cap: 56.31B 1.7268%
  • Volume (24h): 8.07B 0.4%
  • Dominance: 1.7268% 1.7268%
  • Price: $0.38332 0.3777%
Home > Information news > A Surprising Move in the Crypto World: A Giant DOGE Transfer to Coinbase

A Surprising Move in the Crypto World: A Giant DOGE Transfer to Coinbase

Release: 2023/12/09 14:42 Reading: 541

Original author:COINTURK NEWS

Original source:https://coinmarketcap.com/community/articles/6573192ab1961a5889a83011

In the dynamic world of cryptocurrency, an important event recently caught the attention of the crypto community. Whale Alert, a Blockchain tracking service, reported that about 65 million Dogecoin were transferred to Coinbase, the largest US-based exchange. Interestingly, this transaction was associated with a significant overnight increase in the DOGE price. The crypto world questioned the reason behind the move.

A Whale’s Move: 64 Million DOGE to Coinbase

Whale Alert detailed a series of transactions involving 64 million 746 thousand 17 DOGE, worth 6 million 127 thousand 419 dollars, being moved from an unknown sender wallet to a Coinbase address. The last four transactions were approximately 10 million 500 thousand DOGE. Accordingly, the move showed that a strategic transfer was made by a significant player in the crypto space.

The sender wallet is currently empty, indicating a deliberate decision to transfer and potentially sell all Dogecoin assets on the Coinbase platform.

Volatility Unleashed: DOGE Price Dynamics

Dogecoin price has shown a notable fluctuation in recent weeks, following an up and down course. DOGE experienced a surprising increase of 35.7% between November 28 and December 6, reaching a level of $0.1041. DOGE’s birthday celebrations on December 6 were pointing towards a significant event, as DOGE had entered the market on this date in 2013 as a fun parody of Bitcoin.

However, after the celebration, there was a rapid decline and DOGE fell by 10.5% in a single day. The price of the cryptocurrency then recovered with a 5.5% increase in the last 24 hours, revealing the dynamic nature of the DOGE market. Currently, the meme coin DOGE is valued at $0.0968 after a slight correction.

The Quirkiness of Dogecoin: A “Disadvantage” Emerges

Billy Markus, the co-founder of Dogecoin, admitted to a long-standing bug in the cryptocurrency’s code. This bug, which included no limit on the total number of coins that could be mined, was a deliberate decision by Markus and co-founder Jackson Palmer. Markus confessed that if they had corrected this bug, DOGE might have ceased to exist long ago.

As Dogecoin enthusiasts navigate price fluctuations, the recent whale-sized transfer to Coinbase adds another layer of intrigue to the crypto narrative. The correlation between significant transactions and price movements underscores the nuanced dynamics in the crypto market.

Continue Reading: https://en.coin-turk.com/a-surprising-move-in-the-crypto-world-a-giant-doge-transfer-to-coinbase/

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