Dogecoin (DOGE) attracted attention with its high sales by an anonymous whale. An unknown whale transferred 120 million DOGE to the Robinhood exchange, making a massive transaction worth $18.55 million. This major transfer raised concerns among investors about Dogecoin's future price trajectory.
Whale Transaction and Market Reactions
Whale Alert reported that a large amount of DOGE was transferred from DDuXG… to Robinhood. This move occurred during DOGE's price increase, suggesting that the whale was taking profits. Last month, the same address accumulated 226 million DOGE when the price of DOGE was around $0.13. The fact that DOGE is currently around $0.15 may have provided the whale with significant gains. However, such large sales often have the potential to put selling pressure on the price.
According to current data, DOGE is trading at $ 0.1561, with an increase of 3.65 percent in the last 24 hours. The last 24-hour trading range varies between $0.1495 and $0.1569. Dogecoin's market cap stands at $22.41 billion, indicating its resilience to potential negative pressure.
Latest Status of Dogecoin Price
According to data from Coinglass, Dogecoin's open interest (OI) increased by 7.06 percent to $869.93 million. However, derivative volume decreased by 7.10 percent to $1.44 billion. These mixed signals reflect speculative trading activities that increase uncertainty in Dogecoin's future price movements.
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