1.7 Million Dogecoin Were Shifted Anonymously for Fees Unimaginable for Banks

1.7 Million Dogecoin Were Shifted Anonymously for Fees Unimaginable for Banks

According to a number of recent tweets from the @DogeWhaleAlert platform, which tracks the movements of significant Dogecoin transactions, nearly 2 million DOGE have been exchanged over the period of the last day.

Three transactions were all it took to shift this considerable quantity of Dogecoin.

Three incredible transfers of Dogecoin, the largest meme cryptocurrency, were seen by the DOGE transaction tracker described above. Two of these transfers had 800,000,000 DOGE, while the third contained 100,000,000 DOGE.

At the current currency rate, each 800 million DOGE transfer is worth $57,970,400. The value of the 100 million Dogecoin lump sum is $7,729,600. The entire value that was transferred in DOGE was therefore valued at $7,729,600.

No bank, then or now, could compete with the low costs charged for the transfers: $0.16, $0.08, and $0.058 per transfer.

In a previous tweet, @DogeWhaleAlert reported that the popular investing platform Robinhood is currently holding a staggering number of Dogecoin – 40,138,384,632 meme coins. This represents 30.25% of the entire coin circulation supply and is valued at $2,892,291,720.

The major cryptocurrency exchange FTX is apparently thinking at purchasing Robinhood. This data was the subject of a story by Bloomberg. The announcement sent the platform’s stock, HOOD, soaring by more than 18%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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