{"id":566151,"date":"2023-12-20T15:00:33","date_gmt":"2023-12-20T15:00:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=566151"},"modified":"2023-12-20T11:20:55","modified_gmt":"2023-12-20T11:20:55","slug":"dogecoin-price-85-million-doge","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-85-million-doge\/","title":{"rendered":"Dogecoin Price In Trouble: Whale Transfers 85 Million DOGE To Robinhood"},"content":{"rendered":"

The Dogecoin price has been put in a perilous position once more after a DOGE whale made a massive transaction to an exchange<\/a>. The transaction which was flagged by a DOGE community member has raised eyebrows in the space and could possibly be putting sell pressure on the altcoin.<\/p>\n

Dogecoin Whale Transfers Full Balance To Robinhood<\/h2>\n

On Tuesday, a single transaction carrying over $7 million worth of DOGE<\/a> was noticed by a Dogecoin community member who posted<\/a> the transaction on X (formerly Twitter). This transaction caught the attention of the community because it was carrying a little over 85 million DOGE<\/a>.<\/p>\n

At the time of the transaction, this tranche of coins was worth approximately $7.57 million, making it a large whale transaction. The destination of the transaction was even more concerning given that the coins were being sent to the Robinhood platform.<\/p>\n

Now, the reason that this transaction is important is the fact that crypto holders will usually send their coins to centralized exchanges such as Robinhood to sell their coins. This is because they can take advantage of the cheap fees, as well as the deep liquidity provided by these platforms, to enable them to sell such large transactions with ease.<\/p>\n

Furthermore, the X user noted an interesting thing about the sender\u2019s address after the transaction. The whale no longer holds any Dogecoin on their account balance<\/a>, which means they have sent all their coins to the exchange. This could signal that the whale is looking to completely exit their position as Dogecoin fails to launch.<\/p>\n

\"Dogecoin<\/p>\n

DOGE price at $0.09 | Source: DOGEUSD on Tradingview.com<\/a><\/pre>\n
What Happens To DOGE Price?<\/h2>\n
The DOGE price<\/a> could be seeing some negative headwinds ahead especially if this whale is really selling their coins. With sell pressure already pushing down the price, selling such a large amount of Dogecoin would no doubt trigger a further decline.<\/p>\n
This sell pressure is already evident in the meme coin\u2019s price which has fallen drastically over the past week. In the last day alone, DOGE\u2019s price<\/a> is down 3.28%, deviating from the Bitcoin trend that has seen the pioneer cryptocurrency recover from yesterday\u2019s lows.<\/p>\n
Related Reading: Crypto Analyst Predicts XRP 1,500% Move Against Bitcoin, What Are The Terms?<\/a><\/div>\n
However, there could be a change in this sell pressure soon as bids for the meme coin<\/a> start to ramp up. According to data<\/a> from IntoTheBlock, bids are starting to overtake asks again, meaning that buyers are coming back to the market. If this continues, then Dogecoin could look to reclaim $0.1<\/a> once again.<\/p>\n
At the time of writing, Dogecoin is trading at $0.08994, with a 2.37% decline on the weekly chart. Its market cap is sitting at $12.79 billion, making it the 10th-largest cryptocurrency in the space behind Avalanche (AVAX).<\/p>\n
Featured image from 36Crypto, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Dogecoin price has been put in a perilous position once more after a DOGE whale made a massive transaction to an exchange. The transaction which was flagged by a DOGE community member has raised eyebrows in the space and could possibly be putting sell pressure on the altcoin. Dogecoin Whale Transfers Full Balance To Robinhood On Tuesday, a single transaction carrying over $7 million worth of DOGE was noticed by a Dogecoin community member who posted the transaction on X (formerly Twitter). This transaction caught the attention of the community because it was carrying a little over 85 million DOGE. At the time of the transaction, this tranche of coins was worth approximately $7.57 million, making it a large whale transaction. The destination of the transaction was even more concerning given that the coins were being sent to the Robinhood platform. Now, the reason that this transaction is important is the fact that crypto holders will usually send their coins to centralized exchanges such as Robinhood to sell their coins. This is because they can take advantage of the cheap fees, as well as the deep liquidity provided by these platforms, to enable them to sell such large transactions with ease. Furthermore, the X user noted an interesting thing about the sender\u2019s address after the transaction. The whale no longer holds any Dogecoin on their account balance, which means they have sent all their coins to the exchange. This could signal that the whale is looking to completely exit their position as Dogecoin fails to launch. DOGE price at $0.09 | Source: DOGEUSD on Tradingview.com What Happens To DOGE Price? The DOGE price could be seeing some negative headwinds ahead especially if this whale is really selling their coins. With sell pressure already pushing down the price, selling such a large amount of Dogecoin would no doubt trigger a further decline. This sell pressure is already evident in the meme coin\u2019s price which has fallen drastically over the past week. In the last day alone, DOGE\u2019s price is down 3.28%, deviating from the Bitcoin trend that has seen the pioneer cryptocurrency recover from yesterday\u2019s lows. Related Reading: Crypto Analyst Predicts XRP 1,500% Move Against Bitcoin, What Are The Terms? However, there could be a change in this sell pressure soon as bids for the meme coin start to ramp up. According to data from IntoTheBlock, bids are starting to overtake asks again, meaning that buyers are coming back to the market. If this continues, then Dogecoin could look to reclaim $0.1 once again. At the time of writing, Dogecoin is trading at $0.08994, with a 2.37% decline on the weekly chart. Its market cap is sitting at $12.79 billion, making it the 10th-largest cryptocurrency in the space behind Avalanche (AVAX). Featured image from 36Crypto, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":566165,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,89838,85666,7,1803,87540,79599,79600,14896,89615],"class_list":["post-566151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-doge-price-performance","tag-doge-whale","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-whale","tag-dogeusd","tag-dogeusdt","tag-whale","tag-whale-news"],"acf":[],"yoast_head":"\nDogecoin Price In Trouble: Whale Transfers 85 Million DOGE To Robinhood<\/title>\n<meta name=\"description\" content=\"The Dogecoin price has been put in a perilous position once more after a DOGE whale made a massive 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Price In Trouble: Whale Transfers 85 Million DOGE To Robinhood","url":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-85-million-doge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-85-million-doge\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Dogecoin-Small-2.jpeg?resize=200%2C180","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Dogecoin-Small-2.jpeg?fit=320%2C180"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge news","doge price","doge price performance","doge whale","dogecoin","dogecoin news","dogecoin whale","dogeusd","dogeusdt","whale","whale news"],"dateCreated":"2023-12-20T15:00:33Z","datePublished":"2023-12-20T15:00:33Z","dateModified":"2023-12-20T15:00:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Price In Trouble: Whale Transfers 85 Million DOGE To Robinhood\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-price-85-million-doge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-price-85-million-doge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Dogecoin-Small-2.jpeg?resize=200%2C180\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Dogecoin-Small-2.jpeg?fit=320%2C180\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge news\",\"doge price\",\"doge price performance\",\"doge whale\",\"dogecoin\",\"dogecoin news\",\"dogecoin whale\",\"dogeusd\",\"dogeusdt\",\"whale\",\"whale news\"],\"dateCreated\":\"2023-12-20T15:00:33Z\",\"datePublished\":\"2023-12-20T15:00:33Z\",\"dateModified\":\"2023-12-20T15:00:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Dogecoin-Small-2.jpeg?fit=320%2C180","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/566151"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=566151"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/566151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/566165"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=566151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=566151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=566151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}