Sign Up on MEXCRobinhood’s Crypto Trading Facility Faces Outage Amid Rumors of Restricting Dogecoin Trading
Dogecoin (DOGE) has once again registered a phenomenal rally surging 114% in the last 24 hours and hitting its all-time high of $0.29. With DOGE valuations soaring to $34, Dogecoin also makes an entry to the top-ten list as the eighth largest cryptocurrency leaving behind Litecoin (LTC), Uniswap (UNI), and Chainlink (LINK) once again.
Amid all this, popular crypto and stock trading platform Robinhood finds itself in the center of a controversy. There have been some ongoing rumors on social media that Robinhood has been restricting trading of Dogecoin (DOGE) on its platform just like it did with the GameStop (NSE: GME) earlier this year in January 2021.
However, Robinhood has clarified about the same tweeting: “No, we didn’t place restrictions on $DOGE trading. This is false information”.
No, we didn’t place restrictions on $DOGE trading. This is false information. For latest operational updates, check https://t.co/hS5J5eu1GV.
— Robinhood (@RobinhoodApp) April 16, 2021
The social media rumors started floating around when Dogecoin (DOGE) investors were unable to cash out from their Robinhood trading accounts. This ultimately resulted in investor outrage as most users were willing to book profits as DOGE has surged more than 250% in just the last three days.
Robinhood Crypto Trading Facing Outage
In its recent update, Robinhood has issued a statement saying that it is currently facing some serious technical difficulties for its crypto trading facility on the platform. “We’re currently experiencing issues with crypto trading. We’re working to resolve this as soon as possible,” Robinhood tweeted an hour ago.
We’re currently experiencing issues with crypto trading. We're working to resolve this as soon as possible. For the latest updates, check https://t.co/hS5J5eu1GV.
— Robinhood (@RobinhoodApp) April 16, 2021
Robinhood has faced the ire of investors and regulators recently over issues of its trading platform underperforming especially during the peak market moments. Earlier this year, Robinhood had blocked purchases for GameStop, AMC, and other stocks after a massive frenzy from WallStreetBets – a Reddit-based group of retail investors taking on huge hedge giants.
As a result, Robinhood has been facing multiple class-action lawsuits from its users and also has been under federal investigation. On the other hand, WallStreetBets has opened a new thread for crypto discussion for Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). It seems the Reddit group is really causing the pain for Robinhood.
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- First U.S. Spot Dogecoin and XRP ETFs Launch as REX-Osprey Debuts DOJE and XRPR
- Analyst Calls $6 XRP Target for November Amid Ripple CEO’s White House Stockpile Hint
- Ethereum Faces Selloff Risks As Whales’ Unrealized Profit Hits 2021 Highs
- Expert Predicts 138% Shiba Inu Rally as SHIB Futures Listing Opens Spot ETF Path
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
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.
