⚠️ DOGE Price: Whales Shuffle 767 Mln Coins Via Robinhood, What’s Next?
In a shockwave curating development witnessed today, May 7, Dogecoin whales have once again nabbed significant attention, shifting nearly 767 million coins amid DOGE’s price slip. Coming in tandem with Robinhood’s receiving of a Wells notice by the U.S. SEC (Securities and Exchange Commission), the massive amounts of DOGE tokens shuffled from the crypto exchange took the broader crypto market by storm.
These massive whale transactions follow remarkable gains noted by Dogecoin recently, primarily imputed to Tesla’s acceptance of DOGE as a payment method. Collectively, this chronicle has stirred a whirlpool of speculations among crypto market participants over future price movements as DOGE’s price trajectory illustrated a noteworthy dip today. Topping the $0.16 mark briefly in the past 24 hours, the token again slipped to the $0.15 level, aligning with broader market trends.
🔺 Whales Shuffle 767 Mln DOGE Via Robinhood: Report
According to the insights streamlined by Whale Alert, 767 million DOGE was collectively shifted through 4 massive transactions in the past 24 hours. While a majority of these transactions illustrated the accumulation of DOGE tokens, a colossal dump undermined these accumulations.
Notably, data spotlighted three DOGE accumulations by unknown addresses, worth 79.18 million, 123.81 million, and 163.92 million DOGE tokens. On the other hand, 400 million DOGE was moved to Robinhood by an unknown address, birthing contrasting sentiments over Dogecoin’s price action ahead.
In light of Robinhood receiving a Wells notice from the U.S. SEC, a notice that means that the regulatory body plans to bring an enforcement action against Robinhood’s crypto businesses for violating securities laws, these transactions have garnered additional interest. Also, Elon Musk’s Tesla recently integrated Dogecoin as a payment method, but only through DOGE wallets, adding to speculations about the potential motives for these transactions.
