🔥 According to Coingape: $DOGE Price Slips

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.

In the interim, DOGE’s price trajectory illustrated a pullback, pushing an enigma on the world’s largest meme token by global market cap. Dogecoin traded at $0.1554, with a 5.27% dip in its price over the past day.

Collectively, the abovementioned data paints an uncertain picture for the dog-themed meme token’s price run shortly ahead, However, Tesla’s acceptance of DOGE potentially stages as an optimistic development for the token in the long run.

The short-term volatility in DOGE’s price may be further witnessed due to the derivatives data’s hinting of a mixed sentiment in the market. Dogecoin recorded a 7.69% fall in its open interest, whereas its derivatives volume jumped 30.14%.

Nonetheless, it’s also worth noting that crypto market participants anticipate further colossal gains in DOGE ahead, further escorted by BTC’s post-halving rally.