$973M In Dogecoin Transferred To Unknown Wallet After Tesla Announcement

On Tuesday, an anonymous whale wallet transferred $973 million in Dogecoin DOGE/USD to two separate wallets.

What Happened: According to an alert from on-chain wallet tracker WhaleStats, a wallet sent 5.4 billion DOGE worth $973 million to two wallets on Dec. 14 at 12:27 UTC.

The transaction cost the sender a total of 4.49 DOGE or 71 cents. 

The first recipient wallet received 80 million DOGE worth $12.6 million, while the second recipient wallet received 5.3 billion DOGE worth $844 million.

The transactions occurred two hours after Tesla Inc TSLA CEO Elon Musk announced that Tesla would accept DOGE as payment for merchandise.

5,351,593,214 $DOGE ($844,626,000 USD) had been transferred to unknown wallet 1 day 19 hours 6 minutes ago

Transaction: https://t.co/YZiyKYpixK#DogeArmy Is it #Tesla ? pic.twitter.com/of4JEhSTFh

— WhaleStats - the top 1000 Ethereum richlist (@WhaleStats) December 16, 2021

The meme coin's price surged 40% after the news but has since erased most of the gains associated with Musk’s announcement.

The last few days have seen a significant amount of whale activity in terms of transfers across the Dogecoin blockchain.

Data from IntoTheBlock revealed that DOGE saw a 148% increase in on-chain transfers exceeding $100,000 between Dec. 14 and 15.

DOGE Price Action: As of Thursday, DOGE was trading at 17 cents, down 0.5% over 24 hours. The coin’s daily trading volume exceeded $1.8 billion, 41% lower than yesterday’s levels.

Photo by Executium on Unsplash.