Nearly half a billion Dogecoin have been transmitted to two major trading platforms with the anticipated intention of being traded, according to data released by well-known blockchain detective Whale Alert. It took place in the midst of Dogecoin’s sharp price spike this week.
Three big DOGE lumps were removed from the Robinhood investment platform earlier than these two transactions.
https://x.com/whale_alert/status/1793212291631997053
680.9 million DOGE on the move
The data provider mentioned above released notices regarding five massive transactions totaling over 681 million DOGE. The most recent two of them sent 300,000,000 and 89,999,572 DOGE meme coins to Coinbase and Robinhood, two of the biggest cryptocurrency trading platforms. The total currency value of these transfers was $65.5 million. It’s probable that there were prospective sales on those exchanges.
Three further transactions were recorded by Whale Alert prior to that. 82,698,136, 70,081,079, and 138,326,037 Dogecoin were transported by the. This amounted to a total of $48.7 million in cryptocurrency that was taken out of Robinhood and transferred to anonymous blockchain wallets, indicating purchases and transfers to cold storage wallets.
https://x.com/whale_alert/status/1792992363167490300
Because it is one of the top ten digital assets with widespread usage, Dogecoin continues to be of interest to cryptocurrency whales. In addition, tech tycoon Elon Musk supports it, and many people in the DOGE community hold out hope that Elon would include DOGE on X once internal payments are introduced this year.
Dogecoin spikes 12% over past days
The biggest and oldest cryptocurrency with a dog motif, Dogecoin, has seen a remarkable rise in price over the last few days, rising from $0.1520 on Monday to $0.1716 earlier today. This represents a price gain of more than 12%.
The price dropped to $0.1667 after seeing a decrease of almost 3% subsequent to that enormous gain.
