{"id":566714,"date":"2023-12-23T18:00:07","date_gmt":"2023-12-23T18:00:07","guid":{"rendered":"https:\/\/wncen.com\/?p=566714"},"modified":"2023-12-23T11:27:29","modified_gmt":"2023-12-23T11:27:29","slug":"10-million-worth-of-dogecoin-exit-robinhood-what-this-could-mean-for-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/10-million-worth-of-dogecoin-exit-robinhood-what-this-could-mean-for-price\/","title":{"rendered":"$10 Million Worth Of Dogecoin Exit Robinhood – What This Could Mean For Price"},"content":{"rendered":"

On-chain data has revealed more than 112 million <\/span>Dogecoin <\/span><\/a>tokens recently made their way out of Robinhood into an unknown wallet. <\/span>DOGE transfers<\/span><\/a> into crypto exchanges have seen an uptick in the past few days, as the crypto continues to struggle to keep up pace compared to other top cryptocurrencies. However, according to Whale Alerts, 112 million DOGE which was valued at roughly $10.4 million at the time of the transfer, was sent from Robinhood into a private wallet.<\/span><\/p>\n

Related Reading: Social Frenzy: Stacks (STX) Hits 8-Month High, But It Unveiled An Intriguing Twist<\/a><\/div>\n

Massive Dogecoin Transfer Out Of Robinhood<\/b><\/h2>\n

According to Whale Alerts, the 112 million DOGE tokens were transferred from the Robinhood-linked address “DHQsfy” into the private address “DEndnp.” The tokens were then transferred to another private wallet address “DF8jRK” four hours later.<\/span><\/p>\n

A further look through on-chain <\/span>transaction data<\/span><\/a> shows earlier large DOGE transactions between the Robinhood address and private wallet “DEndnp.” On Dec 21, 17.5 million DOGE tokens made their way from Robinhood into “DEndnp.”. At the time of the transaction, this tranche of coins was worth approximately $1.6 million. Again, the tokens were then transferred to “DF8jRK” four hours later. At the time of writing, “<\/span>DF8jRK<\/span><\/a>” holds 111 million DOGE tokens, and the pattern of transfers points to the transactions being made by the same entity.<\/span><\/p>\n

On the other hand, various social media posts from Whale Alerts have shown large DOGE transfers from private addresses into Robinhood over the week. On December 18, <\/span>a single transaction<\/span><\/a> of over $7 million worth of DOGE was sent into Robinhood.<\/span><\/p>\n

DOGE market cap currently at $13.189 billion. Chart: TradingView.com<\/a><\/pre>\n
Crypto whales, or investors holding very large amounts, are always worth keeping an eye on. When whales make big moves, it often means something. They also tend to show general sentiment among whales. However, in this case, $10 million worth of Dogecoin exiting Robinhood could signal that the whale is opting to keep the tokens in self-custody in anticipation of a long-awaited DOGE price surge.<\/span><\/p>\n
Future Outlook For Dogecoin<\/b><\/h2>\n
Dogecoin is currently trading at $0.09312, over a newly found support at the $0.092 level. DOGE went on a run earlier in the month that saw its price reach a yearly high of $0.0151 on December 11. This growth has since slowed down, and DOGE is now down by %0.6 in a 7-day timeframe.\u00a0<\/span><\/p>\n
Related Reading: BONK Crashes 31% After A Solid Month \u2013 Is the Success Story Ending?<\/a><\/div>\n
DOGE whales have increased their holdings by a substantial amount in the past month. According to IntoTheBlock’s Balance By Holdings metric, the balance of addresses holding between $100,000 to $1 million, $1 million to $10 million, and more than $10 million worth of DOGE has increased by 23.28%, 16.41%, and 27% in the past 30 days. Collectively, these large addresses have increased their holdings by $1.32 billion since December 1.\u00a0<\/span><\/p>\n
Dogecoin is currently trading 87% below its all-time high of $0.74. As a meme token, <\/span>DOGE’s value is mostly tied<\/span><\/a> to hype among traders, particularly retail investors. If the current bullish momentum among DOGE whales rolls over into retail investors, we could see the cryptocurrency’s <\/span>strong bullish run in 2024<\/span><\/a>. The first step in its journey to a new high is to <\/span>find a strong footing<\/span><\/a> over the $0.1 price level.<\/span><\/p>\n
Featured images from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
On-chain data has revealed more than 112 million Dogecoin tokens recently made their way out of Robinhood into an unknown wallet. DOGE transfers into crypto exchanges have seen an uptick in the past few days, as the crypto continues to struggle to keep up pace compared to other top cryptocurrencies. However, according to Whale Alerts, 112 million DOGE which was valued at roughly $10.4 million at the time of the transfer, was sent from Robinhood into a private wallet. Related Reading: Social Frenzy: Stacks (STX) Hits 8-Month High, But It Unveiled An Intriguing Twist Massive Dogecoin Transfer Out Of Robinhood According to Whale Alerts, the 112 million DOGE tokens were transferred from the Robinhood-linked address “DHQsfy” into the private address “DEndnp.” The tokens were then transferred to another private wallet address “DF8jRK” four hours later. A further look through on-chain transaction data shows earlier large DOGE transactions between the Robinhood address and private wallet “DEndnp.” On Dec 21, 17.5 million DOGE tokens made their way from Robinhood into “DEndnp.”. At the time of the transaction, this tranche of coins was worth approximately $1.6 million. Again, the tokens were then transferred to “DF8jRK” four hours later. At the time of writing, “DF8jRK” holds 111 million DOGE tokens, and the pattern of transfers points to the transactions being made by the same entity. On the other hand, various social media posts from Whale Alerts have shown large DOGE transfers from private addresses into Robinhood over the week. On December 18, a single transaction of over $7 million worth of DOGE was sent into Robinhood. DOGE market cap currently at $13.189 billion. Chart: TradingView.com Crypto whales, or investors holding very large amounts, are always worth keeping an eye on. When whales make big moves, it often means something. They also tend to show general sentiment among whales. However, in this case, $10 million worth of Dogecoin exiting Robinhood could signal that the whale is opting to keep the tokens in self-custody in anticipation of a long-awaited DOGE price surge. Future Outlook For Dogecoin Dogecoin is currently trading at $0.09312, over a newly found support at the $0.092 level. DOGE went on a run earlier in the month that saw its price reach a yearly high of $0.0151 on December 11. This growth has since slowed down, and DOGE is now down by %0.6 in a 7-day timeframe.\u00a0 Related Reading: BONK Crashes 31% After A Solid Month \u2013 Is the Success Story Ending? DOGE whales have increased their holdings by a substantial amount in the past month. According to IntoTheBlock’s Balance By Holdings metric, the balance of addresses holding between $100,000 to $1 million, $1 million to $10 million, and more than $10 million worth of DOGE has increased by 23.28%, 16.41%, and 27% in the past 30 days. Collectively, these large addresses have increased their holdings by $1.32 billion since December 1.\u00a0 Dogecoin is currently trading 87% below its all-time high of $0.74. As a meme token, DOGE’s value is mostly tied to hype among traders, particularly retail investors. If the current bullish momentum among DOGE whales rolls over into retail investors, we could see the cryptocurrency’s strong bullish run in 2024. The first step in its journey to a new high is to find a strong footing over the $0.1 price level. Featured images from Shutterstock<\/p>\n","protected":false},"author":594,"featured_media":566725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,83685,86147],"tags":[134,6664,1785,7,83767],"class_list":["post-566714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-dogecoin","category-dogecoin-2","tag-altcoin","tag-crypto","tag-doge","tag-dogecoin","tag-meme-coins"],"acf":[],"yoast_head":"\n$10 Million Worth Of Dogecoin Exit Robinhood<\/title>\n<meta name=\"description\" content=\"On-chain data has revealed more than 112 million Dogecoin tokens recently made their way out of Robinhood into an unknown wallet. 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. 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His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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