#DOGE: Robinhood Moves 70 Million Dogecoins With New Support for Elon Musk’s D.O.G.E Project
Robinhood Moves 70 Million Dogecoin Sparking Market Optimism
According to data from Whale Alert, Robinhood has moved 70 million Dogecoins . worth around $30.62 million to Coinbase. This has sparked discussions in the market about its potential impact or the motive behind the move. Besides, DOGE price also dropped by over 3% following the development . indicating that investors are trading cautiously, seeking clarity on the development.
Meanwhile, this comes after the leading coin has recently seen a strong rally. Additionally, the shift in investor focus towards the meme coin sector has boosted market confidence. Meanwhile, cryptocurrencies have also been in the spotlight following Elon Musk’s Ministry of Government Efficiency (D.O.G.E).
It is worth noting that the abbreviated form of the meme coin DOGE, resembles
Donald Trump’s newly planned cabinet. Trump also announced that Musk and Vivek Ramaswamy will lead the cabinet, which has attracted investors’ attention.
On the other hand, Musk and Ramaswamy are scheduled to meet with Republican members of the House and Senate this week. This has sparked market discussions. In addition, Elon Musk’s previous support for Dogecoin has also fueled interest.
This has led to a strong surge in the price of the meme coin.
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