A notable event has occurred in the Dogecoin world, with the transfer of almost 100 million Dogecoin, worth around $12 million, to the wallet of American broker Robinhood. The transaction, which was traced by Whale alert, was made by the address “DF8jR”, which previously carried out more than 1,300 DOGE transactions and still holds 1.85 million coins. This transfer represented almost 99% of the management’s balance.
A notable event has occurred in the Dogecoin world, with the transfer of almost 100 million Dogecoin, worth around $12 million, to the wallet of American broker Robinhood. The transaction, which was traced by Whale alert, was made by the address “DF8jR”, which previously carried out more than 1,300 DOGE transactions and still holds 1.85 million coins. This transfer represented almost 99% of the management’s balance.
Alex DovbnyaThe timing of this transfer is interesting as it comes just as Dogecoin price appears to be recovering after hitting a low of $0.113. For the past four weeks, DOGE has been falling but recently showed signs of recovery and is now trading at $0.125. This price movement is in line with a general market trend, where several digital assets are experiencing a relief rally.
This transaction raises several questions within the community as such large transfers to exchanges are typically considered bearish signals, indicating a possible liquidation that could put downward pressure on the price.
This large transfer to Robinhood also suggests this, as the owner may be preparing for potential trades or looking to take advantage of recent price movements.
Godfrey BenjaminIs this the end of the road for DOGE price? Why was this transfer made at this time in the market? These are probably the most important questions, the answers to which we will soon discover.
