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On December 19, Cryptokit Dogecoin (DOGE) moved nearly $ 1 billion in cryptocurrency, paying less than a dollar in transaction fees.
According to blockchain columnist DogeChain, a wealthy crypto investor moved $ 973.01 million worth of DOGE to two different wallets.
The first wallet received 80 million DOGE for $ 13.78 million, the second received 5.3 billion DOGE for $ 913.09 million.
To pay transaction fees for hundreds of millions of dollars, Dogecoin spent just 4.49 DOGE, or about $ 0.76.
According to BitInfoCharts, prior to this transaction, the address that initiated such an impressive transfer had the second largest Dogecoin wallet.
The outgoing transaction downgraded the wallet to the 48th largest Dogecoin address, now containing about 236 million DOGE, which is approximately $ 40.8 million.Thus, the crypto investor owns 0.1785% of the total DOGE supply.
Last week, business tycoon Elon Musk, who was recently named the Man of 2021 by Time magazine, wrote that DOGE is the best form of payment over Bitcoin:
Dogecoin has much more potential in terms of the number of transactions per day compared to Bitcoin. It is somewhat inflationary, but this inflation is a fixed number, not a percentage.
This means that over time, its interest rate inflation declines. And that’s even good, because it encourages people to spend the token rather than hoarding it as a store of value.
Musk’s statement on December 14, in just two hours, raised the price of Dogecoin from $ 0.15 to $ 0.21, that is, by 40%. DOGE then stabilized and is currently trading at $ 0.16, 19% below its weekly high of $ 0.21 and 26% below its 30-day high of $ 0.23.
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