The investor, who has been holding a large amount of Dogecoin in his wallet for nearly 9 years, has removed all crypto assets from his wallet, according to the latest reports.
In the deal reported by Will Alert, 2.37 million Dogecoins were sold, which had been dormant for nearly 9 years.
BitInfoCharts data revealed that the investor had amassed the digital currency from December 2013, when it was launched, until March 2014. According to the calculations made, it is estimated that the investor made a profit of $326,401.43 due to the massive price increase.
It is reported that the 2.37 million Dogecoins were transferred to an anonymous wallet, while it is not clear if this amount was transferred to any exchange. On the other hand, it is estimated that selling Dogecoin, which corresponds to an average of $335,000, will not have a significant impact on the price based on the current deal size.
Since the price of Dogecoin has doubled in the last week, it can be considered a normal move for investors with large amounts of crypto to move in the direction of selling to get some profits.
According to the latest data, 63.71% of the supply of Dogecoin is in a portfolio of 50 large investors.
Meanwhile, these 50 big investors reduced their holdings by an average of 21 million last month, compared to 761 million asset write-downs last week. Beginning in November, major Dogecoin investors repurchased their assets, increasing their total assets to 484 million Dogecoin.
In the latest situation regarding the amount of Dogecoin transferred to exchanges, it is estimated that 1.2 billion Dogecoins were sent to Binance and 45.5 million Dogecoins to Crypto.com on a weekly basis.
The asset, which entered the crypto docket once again with the takeover of Twitter by Elon Musk, one of the biggest defenders of the Dogecoin, is up 168% from its peak price yesterday, from October 25, when the move started.
Dogecoin was trading at just under $0.14 in the morning after a 12% drop in value after making a little selling yesterday after peaking at $0.1589.