A single transaction on Thursday moved 300 million Doge coin CRYPTO: DOGE from multiple addresses to an unknown wallet.
The transaction on Thursday moved exactly 300 million Doge coin from an unknown address to an unknown wallet for a total transfer value of $27.25 million as of press time, according to Clank, according to transaction tracking service Clank.
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The transaction occurred on Monday after a 73 million Doge coin transaction saw coins being moved from an unknown address to an unknown wallet.
Doge coin's on-chain activity levels have yet to return to normal levels after showing a higher than normal level of activity for an extended period due to market excitement and turmoil caused by two separate reasons.
One activity increase began on the day Tesla Inc TSLA CEO Elon Musk's Twitter Inc NYSE: TWTR acquisition was announced, sparking hopes that he would integrate Doge coin into the platform. The network processed 400 transactions worth at least $2 million within 24 hours.
The collapse of the smart contract criptocurrency Terra LUNA USD and its integrated stable coin TerraUSD UST USD made waves in the whole coin market.