Massive $11.7M Dogecoin Transfer to Robinhood Sparks Bearish Sentiment

A whopping 119 million Dogecoin ($DOGE) transferred to Robinhood

- Estimated value: $11.7 million

- Transfer sparks negative sentiment in Dogecoin community

- Potential sell-off expected

Robinhood's Influence on Crypto Market

- 224% surge in Q1 notional crypto trading volume

- $36 billion in trading volume, exceeding previous year's levels

- 40% year-over-year revenue increase to $618 million

DOGE Price Struggles

- 2.87% decrease in 24 hours

- 10.05% decrease in last month

- Bearish outlook for meme coin

Crypto Market Takes a Hit

- Total market cap falls to $1.99 trillion

- 3.6% decrease in 24 hours

- Failure to hold above $2 trillion mark

Expert Insights:

- Large transfers often impact market movements

- Robinhood's influence on crypto market cannot be overstated

- Bearish sentiment expected to continue

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