Dogecoin Whale Offloads 400 Mln DOGE To Robinhood, Price To Hit $0.09?

Dogecoin, one of the most prominent meme coins across the cryptocurrency landscape, recently birthed a torrent of speculative buzz among crypto market enthusiasts globally following the noting of a colossal whale transfer to a CEX today, February 15. According to the data revealed by the blockchain tracking platform Whale Alert, a staggering 400 Mln DOGE, worth $34.37 million, on the move sparked immense curiosity among crypto market traders and investors as DOGE’s price neared $0.09.

Meanwhile, the derivatives data for the meme coin further fell in line with the pump witnessed today, propelling market optimism for the token. The whale transaction, however, appears to be contrasting the usual market sentiments of a token’s slump with a significant dump, fueling further speculations in the market.

DOGE Whale Transaction: A Detailed Report

According to the above-mentioned blockchain tracker’s data, the significant whale dump of 400 Mln DOGE to a CEX was done by the wallet address DDuXGMFNGp…MBruc1wwKF. The transaction showcased the shifting of 400 million DOGE to an American financial services company that also offers services as a CEX, Robinhood.

Intriguingly, the whale appears to have offloaded the prior mentioned amount amid a significant uptick noted by DOGE, as per Trading View’s data. This seems to have piqued the interests of crypto market traders and investors globally, birthing additional inferences for the token’s run ahead.

Meanwhile, the derivatives data spotlighted by Coinglass showcased a substantial 12.67% surge in DOGE’s open interest, reaching $569.11 million. This signaled an uptrend for the meme coin as of writing, aligning with the pump witnessed in the market today. The substantial surge in new money entering the market, as illustrated by the rise in open interest, showcased a bullish sentiment for the token.

Also Read: Shiba Inu Unveils The Shib Magazine’s Latest Edition, Here’s Everything

DOGE Price Jumps

As per CoinMarketCap’s data, the Dogecoin price noted a substantial 3.29% jump in the past 24 hours and is currently trading at $0.08537. Notably, the meme coin traded as high as $0.08791, nearing the $0.09 mark today, sparking bullish thoughts across the market.

Coincidingly, the positive sentiment for DOGE among investors, as illustrated by the upswing in open interest, is expected to further aid the token’s pump.

Also Read: Justin Sun Unveils TRON’s BTC Layer 2 Solution

✓ Share:

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Advertisement

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.