$DOGE Price at Risk as Whale Moves 1.7 Billion DOGE to Robinhood

Dogecoin (DOGE) may be facing substantial selling pressure after a whale transferred 1.7 billion DOGE to the Robinhood crypto exchange. This move comes on the heels of Dogecoin’s recent price rally, which has made it one of the top gainers in the crypto market.

The whale transferred a total of 1.74 billion DOGE (valued at $278 million) to Robinhood in six separate transactions, with each transaction involving 290 million DOGE. This substantial transfer could indicate potential selling pressure, as on-chain data shows that large transfers to exchanges often signal intentions to offload assets.

Given Dogecoin’s recent performance, climbing over 19% in the past week, this whale may be taking advantage of the surge to lock in profits. With such a large amount of DOGE potentially entering the market, Dogecoin’s price could see a downturn if significant sell orders are placed.

Traders should keep an eye on DOGE’s price action, as increased selling activity could impact the meme coin’s momentum. #BinanceBlockchainWeek #CryptoPreUSElection #USJoblessClaimsDip