203,556,622 DOGE Land on Robinhood as Dogecoin Price Jumps 6%
A significant transfer of 203,556,622 DOGE, valued at approximately $20 million, was made to Robinhood, coinciding with a 6% price rebound for Dogecoin after a recent decline. This movement reflects heightened interest and potential accumulation by investors despite ongoing market volatility and risk-off sentiment. The recent price recovery follows a low of $0.0799 earlier in the week, indicating some resilience in the face of broader cryptocurrency market challenges.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. A significant Dogecoin transfer of 203,556,622 DOGE has caught attention in the last 24 hours. Whale Alert reported a move of 203,556,622 DOGE worth $20,059,987 from an unknown wallet to Robinhood. A similar move was seen Feb. 4, when 277,731,894 DOGE worth $29,491,644 was transferred from an unknown wallet to Robinhood. 🚨 203,556,622 #DOGE (20,059,987 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/o18i9psMhR?from=article-links Dogecoin also saw a price rebound of nearly 6% in the last 24 hours, reversing a downward trend this week. Cryptocurrencies have been on shaky ground ever since the brutal sell-off in October that sapped market confidence. The selling increased this week in line with the unwinding of leveraged bets and broader market volatility. The delay in the release of crucial U.S. economic data due to a partial government shutdown also contributed to the market downturn. Investors have also continued to rotate out of risk-on assets, prompting significant declines for major cryptocurrencies. Along these lines, Dogecoin fell for three days at a stretch this week, reaching a low of $0.0799 on Feb. 6. The sell-off was driven by risk-off positioning and heavy derivatives speculation, with futures volume surging even as spot trading declined. Dogecoin sharply rebounded after hitting a low of $0.0799 on Friday to reach $0.10 before retreating. As cryptocurrencies declined, a drop was seen across the board for market depth, a typ...
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