Dogecoin Whale Offloads 400 Mln DOGE To Robinhood, Price To Hit $0.09?

Coingapestaff
February 15, 2024
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Dogecoin Whales Shift 324 Mln DOGE Amid Price Slip Below $0.18, What's Next?

Highlights

  • A Dogecoin Whale shifted 400 million DOGE to Robinhood.
  • The DOGE price traded in the green today, contrasting the usual market sentiments birthing from a significant whale dump.
  • Derivatives data for the meme coin hints toward an uptrend in the market.

Dogecoin, one of the most prominent meme coins across the cryptocurrency landscape, recently birthed a torrent of speculative buzz among crypto market enthusiasts globally following the noting of a colossal whale transfer to a CEX today, February 15. According to the data revealed by the blockchain tracking platform Whale Alert, a staggering 400 Mln DOGE, worth $34.37 million, on the move sparked immense curiosity among crypto market traders and investors as DOGE’s price neared $0.09.

Meanwhile, the derivatives data for the meme coin further fell in line with the pump witnessed today, propelling market optimism for the token. The whale transaction, however, appears to be contrasting the usual market sentiments of a token’s slump with a significant dump, fueling further speculations in the market.

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DOGE Whale Transaction: A Detailed Report

According to the above-mentioned blockchain tracker’s data, the significant whale dump of 400 Mln DOGE to a CEX was done by the wallet address DDuXGMFNGp…MBruc1wwKF. The transaction showcased the shifting of 400 million DOGE to an American financial services company that also offers services as a CEX, Robinhood.

Intriguingly, the whale appears to have offloaded the prior mentioned amount amid a significant uptick noted by DOGE, as per Trading View’s data. This seems to have piqued the interests of crypto market traders and investors globally, birthing additional inferences for the token’s run ahead.

Meanwhile, the derivatives data spotlighted by Coinglass showcased a substantial 12.67% surge in DOGE’s open interest, reaching $569.11 million. This signaled an uptrend for the meme coin as of writing, aligning with the pump witnessed in the market today. The substantial surge in new money entering the market, as illustrated by the rise in open interest, showcased a bullish sentiment for the token.

Also Read: Shiba Inu Unveils The Shib Magazine’s Latest Edition, Here’s Everything

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DOGE Price Jumps

As per CoinMarketCap’s data, the Dogecoin price noted a substantial 3.29% jump in the past 24 hours and is currently trading at $0.08537. Notably, the meme coin traded as high as $0.08791, nearing the $0.09 mark today, sparking bullish thoughts across the market.

Coincidingly, the positive sentiment for DOGE among investors, as illustrated by the upswing in open interest, is expected to further aid the token’s pump.

Also Read: Justin Sun Unveils TRON’s BTC Layer 2 Solution

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.