Second largest DOGE whale moves billions

On-chain data shows that an unknown cryptowallet moved nearly 5.5 billion DOGE to another wallet earlier in the week. The transaction took place in seven different batches over a ten-minute period. In total, the unknown investor holds nearly ten billion DOGE - about 6.3 percent of the total amount in circulation.

Just a few days ago, the host address was in fifth place. With the transfer, however, the investor has slipped further and is now in second place for the largest DOGE position on a wallet. The amount at the time of writing exceeds half a billion dollars. At the time of writing, the cryptocurrency is trading at $0.07047.

The most powerful Dogecoin shareholder is currently Robinhood. The exchange's wallet holds about 22.6 billion DOGE worth nearly US$1.6 billion. According to Bitinfocharts, the top five Dogecoin investors own more than 35 percent of all tokens. This means that the network, which was founded as a joke in 2013, is extremely centralized.