Dogecoin surges over 10% to cross $0.20 mark
Dogecoin, the canine-themed cryptocurrency, experienced a significant rally, ascending over 10% to breach the $0.20 level in the past 24 hours. This
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uptick is part of a recent bullish trend for the meme coin, which saw a 7% increase on April 6, climbing above $0.18 following a period of relative stability.
The catalyst for this surge appears to be a notable transaction involving the movement of 200 million Dogecoins, valued at approximately $35.45 million, from the trading platform Robinhood to an anonymous wallet. This transaction, monitored and reported by Whale Alert, comprised two separate transfers within a day and has ignited speculation within the cryptocurrency community about Dogecoin's potential to hit the $1 mark.
Initially, the enigmatic wallet received 100 million Dogecoins, worth $17.77 million, from Robinhood. This was soon followed by another transfer of 99.27 million Dogecoins, valued at $17.68 million. These movements resulted in a more than 7% price increase for Dogecoin, pushing it to $0.196.
As of the latest update, Dogecoin is trading at $0.2003, marking an increase of more than 10% over the last 24 hours and an impressive 18.7% rise over the past month. The past two weeks have also seen positive growth, with nearly a 15% increase, although the week preceding saw a minor dip of 3.9% in its value, according to data from CoinGecko.
