Get Started, Whale Dogecoin Moves Over 200 Million DOGE

Hundreds of millions of DOGE moved to other wallets. (photo: Kanchanara-Unsplash)

JAKARTA – The owner of the most cryptocurrencies or commonly called whales reportedly moved his Dogecoin (DOGE) which was worth 29.6 million US dollars (Rp 424 billion) and was only subject to a gas fee of 0.11 DOGE. However, the meme coins do not appear to have been transferred to the crypto trading platform.

From DOGE's transaction data tracker, Dogechain.info, whale made several transactions for the transfer. A total of 263 million DOGE have been moved to other wallet addresses, as reported by CryptoGlobe.

Previously, Benzinga detected that the first DOGE transfer was carried out by whales when the crypto market was plummeting due to the Russo-Ukrainian war. The DOGE whale reportedly moved Dogecoin worth 2 million US dollars (or around Rp. 28 billion) through 118 transactions in one day.

Whale transactions began to increase after the world's richest man Elon Musk announced that he would not sell his Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE). Musk announced the information via his Twitter post. This was triggered by rising US dollar inflation in the US.

Previously, the SpaceX boss believed that DOGE was more suitable to be used as a transaction tool than Bitcoin. Musk said it was not without reason, the article was that the volume of BTC transactions was low while the transaction fees were high. According to him, BTC is only suitable for a store of value and DOGE is more suitable as a medium of exchange.