Whale Alert, a prominent crypto wallet tracking platform, has detected two significant Dogecoin transactions, each valued at over $25 million. The transfers, totaling more than $50 million in DOGE, occurred within an hour of each other and were both executed from the investment platform Robinhood.
This data highlights increased whale activity in the Dogecoin market, with large amounts of DOGE being accumulated this week.
Whales Move $50M in Dogecoin
Earlier today, Whale Alert revealed details of two massive crypto transactions, each involving 400,000,000 DOGE. These transfers occurred just one hour apart and were both made from Robinhood to an anonymous wallet ending in -Mzs1pMke.
Source: X
In addition to these large DOGE movements, Robinhood also transferred 128,775,727 DOGE and 2,069,990 DOGE to its internal blockchain addresses. The whale that withdrew the 800 million DOGE now holds a substantial amount, totaling 31,777,003,228 DOGE, valued at $4,028,688,469 USD according to Blockchair.
On July 10, this whale also received an incoming transfer of 369,999,432 DOGE and made a withdrawal of 369,999,853 DOGE on the same day. Earlier this week, crypto analyst Ali Martinez reported that whales had bought 60 million DOGE within 24 hours.
Major Shiba Inu Withdrawal and Market Impact
Before the two significant DOGE transfers, Robinhood experienced a massive withdrawal of Shiba Inu (SHIB). A total of 2.7 trillion SHIB, valued at approximately $48,343,500 USD, was withdrawn in a single transaction. This large transfer was made to a wallet ending in -418e489, which, according to Etherscan data, is actually another Robinhood wallet, indicating an internal transaction.
Source: X
This week, SHIB’s price dropped by 10% following news of a major security breach at India’s largest cryptocurrency exchange, WazirX. Hackers exploited a vulnerability, stealing about $249 million worth of various cryptocurrencies, including 5.43 trillion Shiba Inu coins, which were sold on the same day.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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