NewsletterNew Whale Transfers $16 Million Worth Of DOGE From Robinhood
In a noteworthy development, blockchain tracker and analytics platform Whale Alert revealed that a substantial amount of Dogecoin (DOGE) – 253,419,377 DOGE, valued at $16,052,287 – has been transferred from Robinhood to an unknown wallet. This transfer takes place against the backdrop of Dogecoin’s remarkable resilience in the face of market fluctuations.
Is DOGE Signalling Bulls?
Despite the inherent volatility that has defined DOGE’s path, the meme-inspired cryptocurrency is displaying its capacity to defy market sentiment and launch upward price movements once again. This proactive posture demonstrates Dogecoin’s continuous appeal and ability to reclaim attention, firmly establishing it as a notable presence in the cryptocurrency market.
According to recent estimates, Robinhood has dramatically boosted its Dogecoin holdings, accounting for more than a quarter of the total circulating supply. However, the site has had difficulties, with significant losses over the last year and a reduction in its user base until 2023.
Analysts’ predictions for the price of Dogecoin’s trajectory in the future are generally upbeat and predict further growth. A particularly intriguing topic is whether DOGE will surpass $1 by the end of 2023.
Also Read: Veteran Trader Peter Brandt And Popular Analysts Predict Another Bitcoin Price Fall
Can DOGE Reach $1 by 2023 End?
Dogecoin is currently up 1.26% and is trading at $0.06347, at the time of writing. Although there is a clear increasing trend, it is still unclear whether DOGE can reach the $0.1 mark and post a 300% gain by the end of August. However, one of the defenses put out by detractors regarding Dogecoin’s long-term viability is the lack of a clear use case beyond contributions and tipping.
The capacity of Dogecoin to manage market fluctuations and keep its charm is still fascinating in this constantly changing cryptocurrency ecosystem. All eyes are still focused on how this meme-fueled digital asset will perform in the future as it continues to display resilience and adaptability.
Also Read: Ripple CTO Unveils Ripple Effect Of SEC’s Unconventional Appeal
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- ‘Rich Dad Poor Dad’ Author Dumps Millions in Bitcoin But Says He’s Still Bullish
- BlackRock’s IBIT Sets New Trading Record In $11.5B ETF Volume Surge
- Charles Hoskinson Praises Cardano’s Network Design Amid ‘Poisoned’ Transaction Attack
- NYSE Approves Grayscale Dogecoin and XRP ETFs to Launch on November 24
- Breaking: December Fed Rate Cut Takes a Hit as Labor Department Cancels October CPI Report
- Dogecoin Price Finds Support: Can the 21Shares & Grayscale DOGE ETFs Spark a Surge?
- Will Solana Price Crash Under $100 as Crypto Market Signals Further Downside?
- Ethereum price Drops Below $2,700 as US Jobs Data Hits Rate-Cut Hopes
- Dogecoin Price Forecast: Will DOGE Hold Above $0.15 or Fall Lower?
- Pi Coin Price Eyes a 105% Surge as Bullish Patterns Align With Bullish Fundamentals
- Will XRP Price Rally to $3 After Bitwise Launches First XRP ETF on NYSE?
