Whale Alert, the on-chain data tracker, has reported multiple transfers of Dogecoins between unknown whales and crypto exchanges Binance and Robinhood. These large transfers, amounting to 1.88 billion DOGE tokens throughout the week, have caught the attention of investors. The reason behind these transfers could be the upcoming DOGE-1 space mission, which aims to take Dogecoin to the moon.
Whale Alert has shown large transfers of Dogecoin to and from Binance, Robinhood, and unknown wallets. The transfers began on the first day of the month with a transfer of 56.9 million DOGE, worth $5.079 million, to Coinbase. On January 3, a flurry of large transfers began with a transfer of 82 million DOGE, worth $6.74 million, to Robinhood. Within 15 minutes, another transfer of 102 million DOGE tokens, worth $8.4 million, was made to Robinhood. Hours later, a reverse transaction occurred, with 151 million DOGE tokens, worth $12.4 million, being transferred from Robinhood to a private wallet.
Whale transfers continued into January 4, with hundreds of millions of DOGE in each transfer. The first transaction of the day was 300 million DOGE, worth $24.6 million, sent from an unknown wallet to Binance. Hours later, 307 million DOGE, worth $25.4 million, were exchanged between unknown wallets. At the same time, another alert revealed that unknown wallets had participated in the exchange of 883 million DOGE tokens, which had a total value of $72.9 million.
The whale activity is happening against the backdrop of the planned DOGE-1 mission to the moon. This mission, paid exclusively with Dogecoins, was initially planned for December 2023. However, Intuitive Machines, the company behind the launch in partnership with Space X, has postponed the launch date to mid-February 2024. The mission, announced by Elon Musk on Twitter (now called X) on May 9, 2021, has been approved by the NTIA and FCC. The mission’s main purpose is to broadcast Dogecoin-inspired art on the Doge-1 satellite, which will orbit the Moon. The satellite will be carried by a Space X rocket, and the Dogecoin-inspired art will be broadcast to Earth. It is anticipated that the mission, if carried out, will contribute to a DOGE price surge.
Despite these developments, the price of DOGE has reacted negatively. The crypto is down by double digits in the past week. At the time of writing, DOGE is trading at $0.07973, down by 12% in a 7-day timeframe.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Elon Musk |
| Companies | Space X, Coinbase, Robinhood, NewsBTC, Binance |
| Currencies | US Dollar, Dogecoin |
| Securities | None |
