According to U.Today, a mysterious Dogecoin (DOGE) whale has acquired a significant amount of the meme cryptocurrency, despite its recent price drop. The whale has reportedly moved two large amounts of DOGE from the exchange to an unknown wallet, totaling over 226 million DOGE. The transactions, which were tracked by blockchain tracker Whale Alert, involved 150,000,000 and 76,316,694 DOGE respectively. At the time of the transactions, the total value of the DOGE was estimated to be around $40 million.
The same wallet, identified as -uc1wwKF, currently holds over 2 billion DOGE, worth approximately $286,909,424. Since April 24, the whale has received three additional transfers of 129,693,892; 40,300,290 and 51,968,427 DOGE. Prior to these transactions, the whale had disposed of 395,000,000 DOGE in three separate transfers.
In related news, a recent report by the Santiment on-chain data agency has shown a significant decline in non-zero Dogecoin wallets. Despite this, DOGE wallets have been performing better than those of Cardano (ADA), which have seen a major drop. Bitcoin wallets, on the other hand, have been growing consistently, despite the volatile market prices.
In terms of market performance, Dogecoin has experienced a downturn in recent days. After a week of flat trading, the meme cryptocurrency has seen a drop of 8.5%, with a recovery of less than 1% today. Since April 24, DOGE has declined by almost 15% and is currently trading at $0.1384. Despite this, DOGE has managed to climb further into the top 10 group of cryptocurrencies, now ranking eighth with a market capitalization value of $20,003,212,269.