Whale Alert in Dogecoin! 120 Million Units of DOGE Sold!

Dogecoin (DOGE) has made a significant price movement recently, but the dumping and selling of a large amount of DOGE by an anonymous whale on a cryptocurrency exchange caused confusion. Accordingly, today an unidentified whale transferred 120 million DOGE worth $18.55 million to the Robinhood exchange. This significant transfer raised concerns among investors about Dogecoin's future price trajectory.

Whale Transaction and Market Reactions

Whale Alert, an on-chain analysis platform, reported that a large amount of DOGE was transferred to Robinhood from the address starting with DDuXG…. This move took place during a period when DOGE was experiencing a price increase, naturally suggesting that the whale might be making a profit.

Interestingly, the same address accumulated 226 million DOGE from Robinhood last month, when the price of DOGE was around $ 0.13. With DOGE currently priced around $0.15, the whale has made significant gains. This transfer worried investors because such large sales can often create selling pressure on the price. Despite this, Dogecoin continued to trade positively.

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