Dogecoin today: big transfer, near-empty mempool

The Dogecoin chain settled 17,404 transfers over the past 24 hours, and a single one of them carried 5.12 percent of the entire daily value. $48,607,636 moved from one address to the next in that one transfer. At the same moment, six entries sat in the queue of unconfirmed transactions. Dogecoin traded at $0.085353 on Sunday morning, or €0.07631.

Those three figures describe a chain that is barely used and whose daily movement hangs on a handful of very large addresses. Two practical consequences follow for investors in Germany: a transfer costs almost nothing, and a sell order meets a book that is thinner than the $13.34 billion market capitalisation suggests. Every on-chain figure in this article comes from the public node dump at Blockchair, the price and turnover figures from CoinGecko.

$48.6 million in one Dogecoin transfer: 5.12 percent of the daily volume

The largest single transfer of the past 24 hours carried $48,607,636. Measured against total on-chain volume of $949.5 million, that is 5.12 percent. Put differently, every twentieth dollar that crossed the Dogecoin chain that day sat in one booking. The transaction carries the identifier 305a0b463533d4543b19fc26e3d80766442c79c54b2d142b3af2d9c6d5f399df and can be read in the public block dump.