Whale Alert, a service monitoring substantial crypto transactions, revealed a movement of nearly 65 million Dogecoin to Coinbase, a major U.S.-based exchange, coinciding with a notable surge in DOGE’s value. The transactions consisted of 15 transfers from an unknown sender’s wallet to a Coinbase address, totaling 64,746,017 DOGE worth $6,127,419. Notably, the sender’s wallet is now empty, indicating a complete transfer of its meme coin contents for potential sale on the exchange.
Around two weeks ago, Dogecoin experienced increased transaction counts, surpassing one million and subsequently 1.5 million transfers. However, this metric has since decreased to approximately half a million DOGE transactions, as reported by Blockchair explorer.
The price of Dogecoin has seen significant volatility, rising by 35.7% between Nov. 28 and Dec. 6, reaching $0.1041, coinciding with DOGE’s birthday celebration. Following this peak, there was a subsequent 10.5% decline within a day, followed by a 5.5% increase in the last 24 hours, with DOGE currently trading at $0.0968.
Dogecoin’s co-founder, Billy Markus, recently acknowledged a bug in DOGE’s code—absence of a cap on total coin mining—that he and fellow co-founder Jackson Palmer chose not to fix. This bug’s existence, according to Markus, prevented DOGE from ceasing to exist long ago.
