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Fri. 27 May 2022, 1:29pm ET Benzinga Cryptocurrency, Markets

Over 90 million Dogecoin (CRYPTO: DOGE) were moved from multiple addresses to an unknown wallet in a single transaction earlier on Friday. 

What Happened: The transaction processed on Thursday moved over 90 million Dogecoin from an unknown address to an unknown wallet for a total transfer value of over $7.1 million as of press time, according to transaction tracking service Clank.

See Also: How To Earn Free Crypto

This transaction was preceded by a 300 million Dogecoin transaction on Monday, which saw coins being moved from multiple addresses to an unknown wallet.

Dogecoin's on-chain activity levels have yet to return to usual levels after showing a higher than normal level of activity for an extended period due to market excitement and turmoil caused by Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk's attempt to acquire social media giant Twitter (NYSE:TWTR) and the recent collapse of smart contract cryptocurrency Terra (CRYPTO: LUNA) and its TerraUSD (CRYPTO: UST) stablecoin.

DOGE Price Action: As of press time, Dogecoin is trading at $0.08309 after seeing its price increase by 4.4% over the last 24 hours.