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.
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.
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.