Today, the crypto space erupted in intrigue following the transfer of a whopping 310 million Dogecoin (DOGE), valued at $51.07 million. Whale alert The data revealed the movement of the “DEgDV” address to “DDuXG,” sparking speculation within the popular cryptocurrency meme community.
Today, the crypto space erupted in intrigue following the transfer of a whopping 310 million Dogecoin (DOGE), valued at $51.07 million. Whale alert The data revealed the movement of the “DEgDV” address to “DDuXG,” sparking speculation within the popular cryptocurrency meme community.
What catches everyone’s attention is the possible link with Robinhood, the US-based brokerage giant. Sources suggest that the sender address, which contains 30.97 billion DOGE, worth $5.07 billion, could be linked to Robinhood. Meanwhile, the recipient address now owns 2.14 billion DOGE, valued at $350 million.
Godfrey Benjamin
This transfer coincides with Robinhood’s recent announcement of its plans to acquire Bitstamp, a former major European cryptocurrency exchange, for approximately $200 million in cash. The acquisition, scheduled for completion in the first half of 2025, adds an interesting layer to the narrative.
What is clear is that this transfer marks a significant event in Dogecoin’s journey, with the sender address emerging as the largest holder of DOGE, controlling around 23.4% of the total volume. The origin of this wallet in May 2023 aligns with the rise in popularity of Dogecoin, especially on platforms like Robinhood, which served as a gateway for many new cryptocurrency investors.
Tomiwabold OlajideWith major acquisitions and large-scale moves shaping the market, all eyes are on how this narrative will impact the price of DOGE in the coming days.
