This series of activities has attracted the attention of the crypto community, with over 439 million Dogecoin (DOGE) transferred in the past 24 hours.
At various points in the past day, blockchain data tracker Whale Alert reported four significant transactions totaling over 439 million DOGE, worth over $184 million. This includes: 117,893,137 DOGE (worth $48,848,984) transferred from Binance to an unknown wallet; 131,812,162 DOGE (worth $54,139,177) transferred from an unknown wallet to Coinbase; 70,000,000 DOGE (worth $30,623,248) transferred from Robinhood to Coinbase; and 120,000,000 DOGE (worth $50,785,617) transferred between unknown wallets.
The large movement of Dogecoin indicates several possible scenarios. Transfers involving Binance, Coinbase, and Robinhood suggest that some of these transactions may be related to exchange activity. This may include transferring assets for liquidity or preparing for trades. In this case, movements in and out of unknown wallets could have two meanings: deposits to exchanges may imply an intention to sell, while withdrawals may suggest an intention to buy.
Wallet-to-wallet transfers may indicate efforts to enhance security, such as moving funds to cold storage or updating wallet protocols. Transactions may have been purchased through over-the-counter (OTC) trades, which occur outside of exchanges. Whales may be preparing for market changes, leveraging previous price patterns of Dogecoin, or getting ready for the next price movement. Dogecoin price, new core update. At the time of writing, due to selling pressure in the cryptocurrency market, Dogecoin has fallen 3.22% in the past 24 hours to $0.41.
According to CoinGlass data, $536.35 million in cryptocurrency positions have been liquidated in the past 24 hours, including $21.39 million in Dogecoin long positions and $11.32 million in Dogecoin short positions. In other Dogecoin news, Dogecoin Core version 1.14.9 has been released, which is a new minor version that fixes significant bugs. Notable changes in this version include important updates that address upstream bugs inherited from Bitcoin Core and Namecoin Core. #DogecoinNews
