Dogecoin Whale Moves $930,000 in DOGE

A mysterious Dogecoin whale has transferred more than 13 million tokens of the meme-inspired cryptocurrency in a series of transactions that took place shortly after Tesla and Space X CEO Elon Musk announced his intention to appoint a new CEO to the microblogging platform Twitter.

The DOGE whale moved 13 million tokens, valued at over $927,000 at the time of the transaction, from different multi-wallets to a newly created wallet in a series of transactions that cost just $3.63 DOGE fees, equivalent to $0.26.

These developments emerged after Musk left the Twitter CEO; The enigmatic entrepreneur recently announced that NBCUniversal’s current head of global advertising, Linda Yaccarino, will take over the microblogging platform. Musk said he will still have a key role at Twitter, handling Yaccarino’s business operations while he focuses on product design and new technology.

Before announcing Yaccarino’s appointment, Musk also shared that he would become executive chairman. Musk also said Friday that he’s excited to work with Yaccarino on transforming Twitter into X, an “everything app” similar to China’s versatile WeChat. The Dogecoin blockchain has been experiencing significant movements over the past few weeks. An inactive DOGE address containing 1.5 million tokens has recently resurfaced after being inactive for 9.3 years. As reported, tens of billions of tokens of the meme-inspired cryptocurrency are now held by long-term investors, as organizations that have been HODLing the cryptocurrency for over a year now hold 44.8 billion coins worth over $3.7 billion.