Large Dogecoin whale strikes $ 973,010,200 in crypto in a single transaction, paying solely $ 0.76 in charges – The Day by day Hodl

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New data shows that a Dogecoin (DOGE) whale has just moved nearly $ 1 billion in crypto while paying less than a dollar in transaction fees.

According to Dogecoin blockchain explorer DogeChain, the deep-pocketed crypto investor moved DOGE worth $ 973.01 million to two different wallets in a single transaction.

The first wallet raised 80 million DOGE worth $ 13.78 million. A second wallet received 5.3 billion DOGE, valued at $ 913.09 million.

At the time of writing, the 5.3 billion DOGE transfer is in a “not yet redeemed” status, indicating that the transaction has not yet been completed.

For the hundreds of millions of dollars worth of transaction, the Dogecoin whale only spent 4.49 DOGE in transaction fees, which amounts to $ 0.76 at the time of writing.

The crypto whale that initiated the massive transfer was the second largest Dogecoin wallet to exist prior to the transaction, according to BitInfoCharts.

The outbound transaction moved the large wallet to the 48th largest Dogecoin address as it now holds over 236 million DOGE worth about $ 40.8 million. The crypto investor holds 0.1785% of the total offer from DOGE.

The whale’s movements come after tech billionaire and Tesla CEO Elon Musk skyrocketed the price of the popular dog-themed meme coin after announcing the electric automaker would accept payments in DOGE for select goods, though it remains unclear for which items are available to buy in Dogecoin.

According to the business tycoon, recently named Person of the Year 2021 by Time Magazine, DOGE is a better form of payment compared to Bitcoin.

β€œThe total flow of transactions that you can carry out with Dogecoin is much more than … like transactions per day [on Dogecoin] is much higher than, has a much higher potential than Bitcoin.

[Dogecoin] is slightly inflationary, but this inflationary number is a fixed number, not a percentage.

This means that the percentage inflation actually decreases over time.

And that’s actually good because it encourages people to spend it instead of hoarding it as a store of value. “

Musk’s announcement sent Dogecoin price up from $ 0.15 to $ 0.21 in just two hours on December 14, a 40% increase. DOGE has since stabilized and is currently trading hands at $ 0.17, a 19% decrease from its 7-day high of $ 0.21 and a 26% decrease from its 30-day high of 0, Equals $ 23.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trades are made at your own risk and that any losses you incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock / Sergey Nivens


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