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  • Huge Dogecoin Whale Moves $ 973,010,200 in Cryptocurrency in One Transaction, Pays Only $ 0.76 in Fees

Huge Dogecoin Whale Moves $ 973,010,200 in Cryptocurrency in One Transaction, Pays Only $ 0.76 in Fees

By on December 19, 2021 0

The first wallet raised 80 million DOGEs worth $ 13.78 million. A second portfolio received 5.3 billion DOGEs worth $ 913.09 million. According to blockchain explorer Dogecoin DogeChain, the deep-pocketed crypto investor transferred $ 973.01 million from DOGE to two different wallets in a single transaction.

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

At the time of writing, the DOGE 5.3 billion transfer has a status of “not yet reimbursed” indicating that the transaction is not yet complete.

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

The outbound transaction dropped the large wallet at the 48th largest Dogecoin address, as it now holds over 236 million DOGEs worth around $ 40.8 million. The crypto investor owns 0.1785% of the total supply of DOGE.

The whale’s movements come after tech billionaire and Tesla CEO Elon Musk skyrocketed the price of the popular dog-themed coin last week after announcing the carmaker Electrical would accept payments in DOGE for some goods, although it is not clear for which items are available. buy in Dogecoin.

According to the business mogul, who was recently named Time Magazine’s 2021 Personality of the Year, DOGE is a better form of payment than Bitcoin.

is slightly inflationary, but this inflationary number is a fixed number as opposed to a percentage.

“The total flow of transactions you can make with Dogecoin is significantly greater than… as the transactions per day are much higher than, has a much higher potential than Bitcoin.

So that means that over time, its percentage of inflation actually decreases.

And that’s actually a good thing because it encourages people to spend rather than accumulating it as a store of value. “

Musk’s announcement took Dogecoin’s price 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% drop from its seven-day high of $ 0.21 and a 26% drop from its 30-day high of $ 0.23.

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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 transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.

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