Data shared by the public blockchain tracking platform Whale Alert has revealed that just recently anonymous transactions that carried hundreds of millions of DOGE have been detected. Some crypto enthusiasts in the comments believe that a massive cryptocurrency dump is taking place.
These transactions have coincided with a big Dogecoin price drop as the meme coin printed a long red candle on an hourly chart.
🚨 🚨 🚨 🚨 🚨 🚨 466,890,148 #DOGE (149,137,073 USD) transferred from unknown wallet to unknown wallethttps://t.co/j5ByZXTJ60
— Whale Alert (@whale_alert) December 30, 2024
816 million Dogecoin on the move
Whale Alert became aware of anonymous crypto wallets moving two big Dogecoin batches – 466,890,148 and 350,000,000 DOGE valued at $149,137,073 and $109,962,192 at the time when those transactions were initiated.
Those transfers took place within a time span of slightly more than an hour, totalling more than 816 million Dogecoins.
Details provided by Whale Alert unveiled that the second and the smaller transaction was made by a whale from seven blockchain addresses, transferring them to two different wallets.
🚨 🚨 🚨 🚨 🚨 350,000,000 #DOGE (109,962,192 USD) transferred from unknown wallet to unknown wallethttps://t.co/vQaVIVC7oB
— Whale Alert (@whale_alert) December 30, 2024
As for the bigger DOGE transfer, that was a cumulative transaction consisting of fifteen smaller transfers made from three different wallets.
Meanwhile, the price of the largest and the very first meme cryptocurrency Dogecoin has dropped by 3.44% over the past two three hours and then made a small recovery. At the time of this writing, DOGE is changing hands at $0.31077 after falling from the $0.32055 level.
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Elon Musk issues big DOGE adoption reminder
On Saturday, tech entrepreneur and the world’s richest man Elon Musk made a comment about the potential founding of The Texas Institute of Technology and Science, jokingly referred to as TITS. Elon Musk shared an idea that he would like to create such an institution in 2021.
He pointed out that tuition payments would be accepted in Dogecoin and dog owners would get discounts. This weekend, Katherine Boyle, who is a general partner at Andreessen Horowitz, tweeted that it is a good idea to start creating this institution now.
It should, she believes, be similar to great military leadership academies: “1000 of our best and brightest American engineers, selected based on test scores, PSAT, and raw technical ability, with a fast track into the greatest manufacturing and engineering companies in the country on the other side of graduation.”
Elon Musk commented on that tweet, agreeing and saying that perhaps the time has truly come to do that.
