800 Million DOGE in 1 Hour — What's Happening?

Prominent crypto wallet tracking platform Whale Alert has detected two hefty cryptocurrency transactions, which carried a tremendous amount of Dogecoin each — an equivalent of over $50 million in DOGE. Both transfers were conducted with a difference of just one hour between them and both were made from the popular investment platform Robinhood.

Details revealed by this data source show that whales have become active as of late, scooping up mammoth amounts of DOGE this week.

800 million DOGE moved in single hour

Earlier today, Whale Alert shared the details of two crypto transactions that carried 400,000,000 DOGE. They followed each other with only one-hour difference. Details provided by the blockchain sleuth show that each of these 400 million DOGE chunks were transferred from Robinhood to the same anonymous wallet ending in -Mzs1pMke.

Aside from those enormous DOGE movements, Robinhood also shoveled 128,775,727 DOGE and 2,069,990 DOGE to its internal blockchain addresses.

The aforementioned whale that withdrew the 800 million of the original meme cryptocurrency Dogecoin now has a mammoth amount of it. According to the Blockchair explorer, the wallet now holds a total of 31,777,003,228 DOGE evaluated at $4,028,688,469 USD.

On July 10, this whale also had an incoming transfer of 369,999,432 DOGE. Prior to that, on the same day, a withdrawal was made from this wallet, comprising 369,999,853 DOGE.

Earlier this week, crypto analyst and trader Ali Martinez announced that just within 24 hours, whales had purchased 60 million DOGE.

2.7 trillion Shiba Inu withdrawn from same platform

Before the very first of the aforementioned two DOGE transfers, Robinhood also faced a mammoth-sized withdrawal of another popular meme cryptocurrency — Shiba Inu.

A total of 2,700,000,000,000 SHIB in total left Robinhood in a single transfer — the equivalent of $48,343,500 USD. The withdrawal was made by a whale whose wallet ends in -418e489. However, data shared by Etherscan shows that this was merely an internal transaction since this wallet also belongs to Robinhood.

The SHIB price took a major 10% plunge this week after news was spread about a hacker exploiting a security vulnerability of India’s largest cryptocurrency exchange WazirX. The cybercriminal stole approximately $249 million worth of PEPE, ETH and other crypto. This amount also contained 5.43 trillion Shiba Inu coins, which the hacker sold on the same day.