A big Dogecoin (DOGE) investor is transferring hundreds of millions of DOGE across several transactions as the price of the meme asset soars.
The high-net-worth trader abruptly transferred 350,000,000 DOGE, valued at $26,581,455 at the time of the transfer, from one unidentified cryptocurrency wallet to another, according to new data from the whale surveillance portal Whale Alert.
The cost to move the millions of tokens was just 4.16 DOGE, or $0.31, according to the blockchain search engine Blockchair. Additionally, the blockchain tracker reveals that the whale transferred the crypto through 11 different transactions.
The developers of Dogecoin stated last week that the project would be updated to reduce the development complexity.
Michi Lumin, the developer of DOGE, stated at the time that they would be incorporating support for Windows-enabled apps, message signing, various languages, and QR codes.
According to Lumin, the upgrade will also address a number of the most common issues seen by Dogecoin developers, including memory integrity checks, truncation solutions, and length checks for edge cases.
This week, DOGE has surged from its seven-day low of $0.0723 to its seven-day high of $0.0768, a 6.2% rise.
The price has since steadied at $0.07470 at the time of writing.