Dogecoin Sees Mysterious $14 Million Transfer from Robinhood

    Dogecoin Sees Mysterious $14 Million Transfer from Robinhood

This Monday, meme coin enthusiasts were intrigued by a major Dogecoin (DOGE) transfer. Earlier today, 166.2 million DOGE tokens were purchased, worth approximately $14 million. transferred from the Robinhood trading platform to an unknown wallet.

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This Monday, meme coin enthusiasts were intrigued by a major Dogecoin (DOGE) transfer. Earlier today, 166.2 million DOGE tokens were purchased, worth approximately $14 million. transferred from the Robinhood trading platform to an unknown wallet.

The transaction was detected and reported by Whale Alert, a service that tracks large cryptocurrency transactions.

Recent Dogecoin Moves Related to Robinhood

Over the past month, Robinhood has been a focal point for several major Dogecoin transactions.

On January 9, a transfer of 134.1 million DOGE (valued at around $10.85 million) moved from Robinhood to an unknown wallet.

Related
Jim Cramer: Bitcoin (BTC) Price Will Not Find Balance

In contrast, on January 8, a significant amount, 78 million DOGE, worth approximately $6.29 million, was moved from an unknown wallet to Robinhood.

On January 4, a massive movement of 883,016,276 DOGE (approximately $72.93 million) took place between unknown wallets.

The fall of the DOGE price

Dogecoin has seen a 6.2% decline in value over the past 24 hours, a move that is in line with the recent slowdown in the broader cryptocurrency market.

Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies have also faced significant selling pressure, reflecting a broader market trend. The flagship cryptocurrency has now fallen below the $40,000 level.

This recession is evident in Dogecoin’s current price of $0.08082, down from a 24-hour high of $0.08632.

This fluctuation is part of the volatile nature of cryptocurrencies, where prices can change rapidly due to various factors, including market sentiment, regulatory news, and technological developments.

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