A significant transfer of 72.2 million Dogecoins, equivalent to approximately $5.86 million, was recorded from the trading platform Robinhood to an anonymous wallet. This transfer is part of a series of significant Dogecoin transactions that have occurred recently.
Large Dogecoin Transactions Observed
Over the past 24 hours, there have been several significant Dogecoin transfers, including the sending of 100 million DOGE (worth $8.27 million) and 150 million DOGE (worth $12.4 million) from Robinhood to undisclosed addresses.
These activities are part of a broader trend of Dogecoin transactions that have been observed in the past month.
It is important to note that on February 10th, a transfer of 150 million DOGE (worth $12.22 million) from an anonymous address back to Robinhood occurred, and the day before, 63.7 million DOGE (worth $5.2 million) was transferred from Bittrex to an unknown address.
Additionally, at the beginning of the month, transfers of 100 million DOGE ($7.83 million) and 103.3 million DOGE ($7.91 million) to Robinhood from unidentified sources were recorded.
Dogecoin Price Stability Despite Large Transfers
Despite extensive transfers, the price of Dogecoin has remained stable and resilient. Currently ranked 11th in market capitalization, Dogecoin is trading at $0.08098, representing a 1.4% increase over the past 24 hours.
The trading volume of Dogecoin over the last 24 hours reached $510.1 million, indicating a strong position in the market and investor confidence in Dogecoin, despite the natural volatility of the cryptocurrency market and recent large transactions.
According to reports from U.Today, the iconic meme coin no longer holds a place among the top ten cryptocurrencies by market capitalization.
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