In an unexpected turn of events inside the Dogecoin community, 400 million DOGE coins have gone without a trace, leaving experts perplexed and investors concerned. The rapid loss occurred in a sequence of strange transactions between unknown wallets, causing a buzz of conjecture and alarm within the DOGE community.
According to Whale Alert, a staggering 400 million DOGE tokens were quickly moved between unknown wallets, indicating a substantial and unexpected upheaval in the digital currency market. However, a closer dig into on-chain explorer data revealed an even greater transfer, totaling 512.68 million tokens worth around $43.39 million.
https://x.com/whale_alert/status/1760578586010935329?s=20
The cryptic nature of the wallets involved heightens the mystery. All addresses involved in this perplexing transfer, totaling more than half a billion Dogecoins, are new to the scene and have no past transaction history.
Dogecoin miners hit pause
This rapid absence correlates with an unusual tendency among Dogecoin miners. Recent figures from IntoTheBlock show a significant decline in miners’ sell-offs, with net outflows falling from 19.44 million to 7.27 million DOGE in the last 24 hours.
While outflows continue, their decreasing size suggests a probable shift in miner behaviour.
Dogecoin miners now have an estimated 4.16 billion DOGE in reserves, which is worth $354.86 million. Despite these developments, the community is still buzzing with conjecture and interest, since the locations of the 400 million DOGE remain unknown.
