Deep-pocketed Dogecoin (DOGE) investors have abruptly moved hundreds of millions of dollars worth of the meme asset during the last 24 hours.

According to new data from whale-tracking platform Whale Alert, high-net-worth DOGE traders have moved about $335,000,000 million dollars worth of the dog-themed memecoin during the last day.

Of the seven notable transactions on Whale Alert’s radar, which were similar in nature, just one of them was under the $48 million mark. The transactions include:

• 800,000,000 DOGE worth $48,253,834 transferred from one unknown crypto wallet to another unknown crypto wallet.
• 800,000,000 DOGE worth $48,286,187 transferred from one unknown crypto wallet to another unknown crypto wallet.
• 800,000,000 DOGE worth $48,274,867 transferred from one unknown crypto wallet to another unknown crypto wallet.
• 800,000,000 DOGE worth $48,278,320 transferred from one unknown crypto wallet to another unknown crypto wallet.
• 800,000,000 DOGE worth $48,266,151 transferred from one unknown crypto wallet to another unknown crypto wallet.
• 800,000,000 DOGE worth $48,257,676 transferred from one unknown crypto wallet to another unknown crypto wallet.
• 800,000,000 DOGE worth $47,536,899 transferred from one unknown crypto wallet to another unknown crypto wallet.

Recently, crypto analyst Nicholas Merten, who hosts DataDash, predicted that Dogecoin will bottom out by the end of 2023 or sometime during 2024 and spark a fresh rally. However, the strategist says that traders should expect DOGE to drop down to somewhere between $0.035 and $0.025 before it reverses course.

Dogecoin is trading for $0.062 at time of writing, a 1.66% decrease during the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/IR Stone/MrArtHit