In the recent activity in the meme coin space, a significant amount of Dogecoin (DOGE) has been on the move. On the other hand, the movements raised questions about the intentions of the entities behind these transactions. Meanwhile, according to Whale Alert, 350 million DOGE was sent from an unknown wallet to popular trading platform Robinhood on October 28.
Latest Dogecoin Movements
This isn’t the first time Dogecoin has seen such increased whale activity in the past few weeks. Notably, Whale Alert has reported several major transfer news over the past few days, sparking speculation among crypto market enthusiasts as well as the meme coin community. These high-value transactions attract attention. Accordingly, it indicates active trading and potentially strategic DOGE accumulation or distribution.
The cryptocurrency market is no stranger to rapid and significant movements. On the other hand, popular meme coin Dogecoin once again found itself among the notable transfers. According to the latest report by Whale Alert, whales transported approximately $23.7 million worth of DOGE at that time. 350 million Dogecoin went to Robinhod. A similar transaction occurred on October 25. Accordingly, 350 million DOGE worth $23.4 million was moved to Robinhood from an unknown wallet. This raised questions about the motivations behind such a significant transfer. It also sparked speculation.
Whale movements continued
Meanwhile, Whale Alert also reported that 97 million Dogecoin DOGE with a total value of $7.2 million was transferred from Robinhood to an undisclosed wallet. These moves reflect the dynamic structure of the cryptocurrency market.
On the other hand, according to a recent report, Musk envisions X as the primary platform for all financial matters. Accordingly, it eliminates the need for traditional bank accounts. It also comprehensively addresses users’ financial needs. There is no explicit reference to Dogecoin in the report. However, it is always notable that Musk is a prominent supporter of DOGE. It also tends to generate enthusiasm among Dogecoin holders when it comes to its involvement in financial services.
DOGE price
Meanwhile, when we look at Kriptokoin.com while writing the article, it is trading at $ 0.06938, with a 2% decrease. The transaction volume in the last 24 hours is at the level of 426 dollars. On the other hand, its market value is 9.81 billion dollars.
However, in the last seven days, Dogecoin price has increased by over 15%. Additionally, its price has increased by more than 14% in the last 30 days. According to many analysts, the recent rise in crypto price is due to the increased interest of investors in the crypto market.
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