A staggering sum of Dogecoin was moved to the well-known trading platform Robinhood around eight hours ago by an unknown cryptocurrency holder, according to data released by the well-known tracking website Whale Alert.
In total, he sent 300,000,000 DOGE, which is equivalent to $25,033,123 in meme currency. For the pitiful sum of $0.18 (or 2.256 DOGE), it was sent. For a $25 million transfer, no regular bank could provide such a deal, especially considering how quickly it was completed.
Dogecoin whales active in November
Since Robinhood permits the purchasing and selling of DOGE and other cryptocurrencies in addition to their sale, the purpose of this transaction is still unclear. Additionally, users may keep their cryptocurrency on the network for a long period in its own wallets. A noteworthy quantity of DOGE (103,000,000) was delivered to Robinhood on November 16th, along with other meme cryptocurrency.
All things considered, November saw a lot of significant Dogecoin transactions. Over the course of the whole month, Whale Alert saw incredible DOGE transactions between mysterious wallets, anonymous whales, and Robinhood. After then, the tracker saw that 690,000,000 meme coins, or more than $50 million in fiat money, had been exchanged between them in an astounding number of DOGE.
In November, a significant number of inactive DOGE wallets have also begun to stir and transfer substantial quantities of Dogecoin. A report from Santiment, an on-chain data source, states that in addition, 121 additional DOGE addresses with a combined value of over 1,000,000 DOGE were created.
https://x.com/whale_alert/status/1730430114955964416?s=20
DOGE may double its price, analyst believes
Crypto expert Ali Martinez tweeted earlier this week, sharing a DOGE chart and speculating that, should it break over the critical $0.087 resistance, the most well-known dog cryptocurrency may double in value.
According to Ali, the 100-week and 200-week EMAs as well as the 0.786 Fibonacci level coincided at this point, making a breakthrough difficult. If Dogecoin succeeds in doing so, though, its value may quadruple and reach $0.14.
With a gain of 11.36% since the beginning of the week, Dogecoin has reached a price of $0.0848. In the last 24 hours, it increased by over 6%. But today the price started to drop; it lost 1.29% and is currently trading at $0.0838.
Both this week and this weekend, Dogecoin showed an amazing increase in network transactions. It quickly overtook Bitcoin and Ethereum in daily transactions, rising from over a million to over 1.5 million.
Nonetheless, it is thought that tiny transactions—whose creators took advantage of extremely cheap DOGE fees and dust restrictions on the network—are what led to this rise in transactions.
Billy Markus, a cofounder of Dogecoin, remarked on the increase that occurred last Saturday, stating that it was caused by users shifting Doge Ordinals, or Dogginals, and “s-coins,” which are tokens created on the Dogecoin blockchain based on the company’s new DRC-20 token standard.
