According to popular cryptocurrency tracking website Whale Alert, 299,999,999 Dogecoin were transferred to the Binance exchange by an unidentified whale a little more than an hour ago.
That is equal to $21,733,783 in value.
The @DogeWhaleAlert cryptocurrency tracker discovered numerous other DOGE transactions that added up to a little bit more than the one already highlighted. Binance was the final stop for two of them. These transactions occurred as Dogecoin had a slight drop over the previous 24 hours.
355 million DOGE moved to Binance, 286 million sent between top wallets
Aside from the 300 million DOGE transactions, anonymous transactions carrying lump sums of 29,784,022 and 25,000,858 to Binance wallets were also discovered. According to @DogeWhaleAlert, the first transaction was performed using a Top 20 crypto wallet. These two transfers have a combined currency value of over $4 million.
Along with the transfers already stated, @DogeWhaleAlert also revealed that during the previous 24 hours, the top 20 wallets have moved a total of 286.4 million DOGE in three chunks: 83,123,858; 101,573,521; and 101,815,567 Dogecoins. It’s the equivalent of $20.6 million.
Dogecoin price performance in light of PEPE craze
A TradingView graphic on Binance showed a drop in the price of DOGE of almost 8% on May 8. The meme coin did, however, manage to make a small recovery earlier today, gaining 2.13%, and is now down about 6% over the course of the previous 24 hours.
The price of DOGE is $0.07274 at the time of writing. So, if the aforementioned unnamed whale did sell his Dogecoin on Binance, it was probably a loss-making transaction.
The recent PEPE joke token craze, which saw a flurry of listings on major exchanges and several price increases of over 50%, has been well-resisted by Dogecoin during the previous few weeks.
The market capitalization value of the Shiba Inu meme currency, which ranks second after DOGE, has decreased by more than 11% over the previous week. PEPE outperformed SHIB and DOGE at its peak, with a trading volume of about $3 billion.
PEPE is now trading, however, at a discount of 55% from the May 5 record high of $0.000004354. After the meme currency was launched on Binance last week, the collapse started.
