The Meme-based cryptocurrency Dogecoin (DOGE) has recently experienced a significant increase in whale transactions during an improvement in the crypto asset’s price.

밈 기반 암호화폐 도지코인(DOGE)은 최근 암호화폐 가격이 개선되면서 고래 거래가 크게 증가했습니다.

300 Million Dogecoin (DOGE) Dumped In Crypto Exchange

3억 개의 Dogecoin(DOGE)이 암호화폐 거래소에 버려졌습니다.

Data from the on-chain crypto tracker Whale Alert recently revealed that a massive amount of Dogecoin (DOGE) was transferred to Robinhood. This whale transaction has attracted the interest of traders and investors in the larger cryptocurrency space.

According to the crypto tracker, the transfer was orchestrated by an unknown wallet address earlier today. The wallet address identified as DDuXG.ruc1wwKF sent about 300 million DOGE to the cryptocurrency trading platform Robinhood.

The post read:

게시물은 다음과 같습니다.

300,000,000 #DOGE (25,033,123 USD) transferred from unknown wallet to #Robinhood.

With the current price of Dogecoin, the whale transaction is valued at approximately $25 million. The whale moved the substantial Dogecoin haul to Robinhood for a comparatively low network cost of just $0.18. This is most likely by taking advantage of times when fees and congestion were low. 

현재 Dogecoin 가격을 기준으로 고래 거래 가치는 약 2,500만 달러에 달합니다. 고래는 단 0.18달러의 비교적 낮은 네트워크 비용으로 상당한 양의 Dogecoin을 Robinhood로 옮겼습니다. 이는 수수료와 혼잡도가 낮은 시기를 활용하는 것일 가능성이 높습니다.

The transfer of DOGE to Robinhood suggests that the whale is looking to sell the tokens, igniting speculation in the larger cryptocurrency market. However, it seems that the meme-based cryptocurrency’s price increase runs counter to the tokens being dumped on exchanges.

DOGE가 Robinhood로 이전된 것은 고래가 토큰 판매를 모색하고 있음을 시사하여 더 큰 암호화폐 시장에서 투기를 촉발시켰습니다. 그러나 밈 기반 암호화폐의 가격 인상은 거래소에 투매되는 토큰과 역행하는 것으로 보인다.

Currently, the price of DOGE is sitting at $0.0839, indicating an over 2% increase in price in the past 24 hours. Meanwhile, its market capitalization is also reflecting the same percentage rise at $11.9 billion, according to CoinMarketCap.

A similar whale transaction was also flagged by the on-chain tracker recently. In October, a similar transaction of 300 million DOGE tokens occurred thrice, while last month also saw a similar transaction twice.

최근 온체인 추적기에 의해 유사한 고래 거래가 신고되었습니다. 10월에는 3억 개의 DOGE 토큰에 대한 유사한 거래가 세 번 발생했으며 지난달에도 유사한 거래가 두 번 발생했습니다.

Large-scale individual transactions usually come with the danger of crashes due to fast liquidations or market manipulation. However, there is no solid evidence that the whale transaction had any impact on the token’s price.

The Crypto Asset’s Holders Increases Significantly

암호화폐 보유자 대폭 증가

Dogecoin has shown a significant uptick in its total number of holders lately. Analytics firm IntoTheBlock revealed that the total number of addresses holding a balance exceeded 5 million this week, and reached a high of 5.02 million on November 27. A major factor contributing to the rise in new Dogecoin addresses is the cryptocurrency’s increasing adoption and interest.

The on-chain analytics firm also revealed that the numbers have been increasing gradually since the start of the year. “This recent activity is most likely driven by Dogecoin “Doginals”, which don’t require a significant on-chain balance of $DOGE,” IntoTheBlock said.

DOGE trading at $0.0833 on the 1D chart | Source: DOGEUSDT on Tradingview.com

1D 차트에서 DOGE 거래가 $0.0833 | 출처: Tradingview.com의 DOGEUSDT