Even though Dogecoin has been falling in value since the weekend, an enigmatic DOGE whale has accumulated a sizable holding of the most popular joke cryptocurrency.
Popular blockchain tracker Whale Alert has seen two large-scale transactions as hundreds of millions of DOGE are moved from the exchange to an unidentified wallet.
226 million DOGE scooped up by whale
Two sizable bitcoin chunks were withdrawn from Robinhood over the course of the last day by an unnamed cryptocurrency whale, according to tweets that Whale Alert just released. There were 150,000,000 and 76,316,694 DOGE carried in these transactions, for a total of more than 226 million Dogecoin.
At the time, this quantity of meme cryptocurrency was valued at around $40 million in money.
To the same wallet, -uc1wwKF, were sent both DOGE lumps. This blockchain address is now holding an amazing 2,052,284,869 Dogecoin, valued at $286,909,424, as of this writing.
This whale has also observed three inbound transfers containing Dogecoin since April 24: 129,693,892; 40,300,290; and 51,968,427. The whale had already made three transfers totaling 395,000,000 DOGE before receiving them.
DOGE whales become inactive
A new study from the Santiment on-chain data agency reveals a significant drop of Dogecoin wallets that are not zero, as previously reported by U.Today. The analytics team noticed significant increases in this measure earlier in the year, but now the quantity of these Dogecoin addresses has levelled out.
Santiment said that with the flattening, DOGE wallets have been performing better than Cardano wallets, whereas ADA wallets that aren’t empty have experienced a significant decline. The clear victor in this case so far is the leading cryptocurrency Bitcoin, whose wallets holding some quantity of BTC have been steadily increasing recently even if the promotion has seen extremely fluctuating BTC values.
Dogecoin market performance
Dogecoin, the biggest meme cryptocurrency by market capitalization, has seen yet another decline following around a week of flat trade. DOGE has lost 8.5% since Sunday and has only made up less than 1% of its previous loss today.
As of this writing, the well-known currency with a meme theme is trading at $0.1384, down about 15% from its peak on April 24.
After making significant progress lately, DOGE currently holds the eighth position in the top 10 cryptocurrency group with a market capitalization value of $20,003,212,269, placing it well within the top 10.
