Yesterday’s Fed’s tone of voice suggesting its fight against stubborn inflation hasn’t ended yet, and more rate hikes underway, sent big waves across many markets including currencies, stocks and crypto. On average, major tokens lost around 4%, with Ethereum (ETH, -6%) being hit hard the most. DOGE is trading at $0.06005 at time of writing. Dogecoin has held above $0.06 since June 11, but a negative was the failure of the bulls to initiate a meaningful rally. The 8th-ranked crypto asset by market cap is down 2.81% in the past 24 hours, while SHIB is trading at $0.000006571, a 3.24% decrease during the last day.

Earlier this week, Cryptowhales made a sudden transfer of nearly $60 million worth of top memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) within 24 hours. According to blockchain tracker Whale Alert, the largest single transaction involved an unknown wallet sending 360 million DOGE worth more than $21 million to another unknown wallet. Let’s not forget, that Dogecoin is still decentralized and still an open source. Dogecoin is still not controlled by a single entity.

Regarding SHIB transactions, Whale Alert noted that crypto trading firm Jump Trading has moved more than 1 trillion SHIB worth nearly $7 million to an undisclosed wallet. Retail giant Robinhood is involved in other major memecoin transactions.

According to BitInfoCharts, Robinhood’s wallet is currently the second-largest Dogecoin address holder in the world, containing nearly $670 million worth of DOGE at the time of writing, or about 7.72% of the token’s circulating supply.