1,000,000,000 DOGE In Past Five Hours As Price Crashes 25%

Data shared by Whale Alert blockchain sleuth, which monitors large cryptocurrency transfers and then shares the details on its website and X account, spreads the word that over the past three hours a staggering amount of DOGE meme coins has changed hands.

Those two huge transactions were made between anonymous wallets with the participation of the world’s largest crypto exchange Binance. Those transfers took place as a massive multi-billion US dollar crypto bloodbath unleashed.

1.2 billion DOGE transfer stuns community

The aforementioned data source revealed two transfers which shoveled tremendous amounts of Dogecoin – totalling more than 1.2 billion meme coins.

The largest ones, which were sent over the past five hours, carried 800,000,000 DOGE and 200,000,000 DOGE valued at $200,665,710 and $49,942,237. The community was bewildered by the massive 800 million Dogecoin transfer, making guesses as to the nature and the goal of it.

An X user suggested that it might be related to Grayscale as it launched a Dogecoin Trust last week, pleasing the meme coin’s community. While the 800 million coin transfer was made between anonymous blockchain addresses, the 200 million DOGE transaction was specifically sent from an unknown wallet to the world’s largest centralized cryptocurrency exchange Binance with a likely goal of selling this meme coin batch.

The other two consecutive transfers were detected by Whale Alert on Sunday, and those targeted the biggest US-based crypto trading platform Coinbase: 104,125,016 DOGE were sent to that exchange twice. Each of these transfers carried the equivalent of $32,601,617.

Dogecoin price crashes 25%

Meanwhile, the price of the largest and the earliest meme cryptocurrency DOGE faced a massive decline of more than 25% since Sunday, dropping from $0.29787 to $0.22184. By now, Dogecoin has rebounded a little, adding 14.12% and changing hands at $0.25364.

The DOGE price collapse came during the bloodbath that was unleashed on the cryptocurrency market over the weekend. The amount of liquidations in the past day has surpassed a mind-boggling $2.2 billion.

The world’s leading cryptocurrency Bitcoin tanked by roughly 8.37%, going down from $101,298 to hit the $92,800 zone. The massive sell-off took place after the US government imposed big 25% tariffs on the import of goods from Mexico and Canada and 10% for Chinese imports unleashing what many refer to as a trade war.