Sunday, June 16, 2024

Crypto Whales Swiftly Transfer Almost $60,000,000 in Dogecoin and Shiba Inu

Crypto whales have made swift moves by transferring nearly $60 million worth of Dogecoin and Shiba Inu.

Earlier this week, notable figures in the cryptocurrency industry made noteworthy transactions involving the widely recognised memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB). The turn of events was unexpected. In just 24 hours, these prominent figures in the cryptocurrency industry were able to efficiently transfer an impressive amount of almost $60 million.

According to Whale Alert, a blockchain tracker, a significant transfer took place when an unidentified wallet sent an astonishing 360 million DOGE, which is worth over $21 million, to another undisclosed wallet.

It has been observed that Jump Trading, a crypto trading firm, transferred an astounding 1 trillion SHIB, which is equivalent to almost $7 million, to an unknown wallet in relation to SHIB transactions.

Robinhood, the well-known retail trading giant, was involved in significant transfers of memecoins.

An unidentified wallet received a transfer of 101,224,068 DOGE, which is valued at over $6.2 million, from Robinhood.

Robinhood received a transfer of 204,977,642 DOGE from an unidentified wallet, which is valued at more than $12.6 million.

Robinhood transferred 189,073,539 DOGE, which is worth approximately $11.65 million, to an undisclosed wallet.

According to BitInfoCharts, Robinhood’s wallet currently holds approximately $670 million worth of DOGE, making it the second-wealthiest Dogecoin address globally. This amount constitutes about 7.72% of the token’s circulating supply. It is noteworthy that the Robinhood wallet was previously the world’s largest. However, in early June, it transferred hundreds of millions of dollars worth of Dogecoin to an unknown address. As a result of this action, the receiving address became the wealthiest Dogecoin wallet. It is unclear whether this new address is associated with the retail trading giant.

At present, the trading value of DOGE stands at $0.062, indicating a slight rise of 0.38% over the last 24 hours. In contrast, SHIB is currently being traded at $0.000007, reflecting a 2.2% increase in value over the past 24 hours.


Read Also: Billionaire Mark Cuban: SEC Treating Crypto Differently from Other Industries

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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