Dailycoin’s report says that around 40,000 Dogecoin wallets have dumped their coins during the past ten days. These numbers are a huge drop from what DOGE holders saw earlier this year. Reports suggest that earlier in March, about 7 lakh wallets had removed Dogecoin holdings from their accounts.
Whereas, Whale Move Tracker Dogecoin Whale Alert Data from the U.S. shows that some large whales can only deposit DOGE coins. The report, citing the tracker, suggests that Dogecoin, worth approximately $22 million, was transferred from a series of smaller wallets to several larger wallets during the roughly 12 hours between Tuesday and Wednesday.
Most of these transactions were recorded in values between $500,000 and $950,000. Shortly before this, the tracker tracked the largest single transaction of 100 million DOGE, which was valued at over $12.9 million at the time.
The report cites another blockchain data tracker, Clank, that between Tuesday and Wednesday, about $4 billion worth of Dogecoin was transferred to an unknown wallet.
However, it appears that all these transfers have not had much effect on the price of Dogecoin. Although the price of the coin has been recording a steady decline for the last few days, but still till the time of writing the news, this coin was trading at Rs 10.86 in India, which is an increase of 2.54% in the last 24 hours.