LIVEDOGE Price Set For Rebound? Whale Moves $26 Million In Dogecoin Off Robinhood.
The price of Dogecoin has been experiencing a significant amount of bearish pressure in the past few days. This recent decline coincides with a general market downturn, which has seen other large-cap assets like Bitcoin and Ethereum tumble with notable losses.
However, the meme coin’s price might not be down for too long, especially after a major investor executed a massive transaction off a centralized exchange. The transfer, which an on-chain data tracker flagged, has sparked speculations in the DOGE community and could be bullish for the meme coin’s price.
Whale Transfers 150 Million Dogecoin From Robinhood
According to data from blockchain transaction tracker Whale Alert, a substantial amount of Dogecoin has made its way off the Robinhood exchange. In the past day, an outgoing transfer of 150 million DOGE tokens, equivalent to more than $26 million, from the crypto trading platform was spotted on the Dogecoin blockchain.
Given the magnitude of this transaction, it appears that a whale was behind this movement of funds. Whales refer to influential entities or individuals that own or hold significant amounts of a particular cryptocurrency in their wallets (Dogecoin, in this case).
Whales are often perceived as major players in the crypto market, as their buying and selling activities can have a substantial impact on a token’s price. As such, their actions can be worth keeping an eye on, especially as they can lead to speculations and potential market shifts.
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