{"id":603127,"date":"2024-04-14T09:56:18","date_gmt":"2024-04-14T09:56:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=603127"},"modified":"2024-04-14T09:56:18","modified_gmt":"2024-04-14T09:56:18","slug":"doge-price-set-for-rebound-whale-moves-26-million-in-dogecoin-off-robinhood","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/doge-price-set-for-rebound-whale-moves-26-million-in-dogecoin-off-robinhood\/","title":{"rendered":"DOGE Price Set For Rebound? Whale Moves $26 Million In Dogecoin Off Robinhood"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The <a href=\"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-memecoins-doge-active-trader-count\/\" target=\"_blank\" rel=\"noopener \">price of Dogecoin<\/a> has been experiencing a significant amount of bearish pressure in the past few days. This recent decline coincides with a general market downturn, which has seen other large-cap assets like Bitcoin and Ethereum tumble with notable losses.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the meme coin\u2019s price might not be down for too long, especially after a major investor executed a massive transaction off a centralized exchange. The transfer, which an on-chain data tracker flagged, has sparked speculations in the DOGE community and could be bullish for the meme coin\u2019s price.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Whale Transfers 150 Million Dogecoin From Robinhood<\/span><\/h2>\n<p><span style=\"font-weight: 400\">According to data from blockchain transaction tracker <a href=\"https:\/\/x.com\/whale_alert\/status\/22341903\" target=\"_blank\" rel=\"noopener nofollow\">Whale Alert<\/a>, a substantial amount of Dogecoin has made its way off the Robinhood exchange. In the past day, an outgoing transfer of 150 million DOGE tokens, equivalent to more than $26 million, from the crypto trading platform was spotted on the Dogecoin blockchain.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/litecoin\/litecoin-ltc-breaks-records-5-million-long-term\/\" target=\"_blank\" rel=\"noopener \">Litecoin (LTC) Breaks Records: 5 Million Long-Term Holders Signal Major Market Shift<\/a><\/div>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 \ud83d\udea8  150,000,000 <a href=\"https:\/\/twitter.com\/hashtag\/DOGE?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#DOGE<\/a> (26,036,962 USD) transferred from <a href=\"https:\/\/twitter.com\/hashtag\/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Robinhood<\/a> to unknown wallet<a href=\"https:\/\/t.co\/Z4P1JnNtsb\" rel=\"nofollow\">https:\/\/t.co\/Z4P1JnNtsb<\/a><\/p>\n<p>&mdash; Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/22341903?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 12, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Given the magnitude of this transaction, it appears that a whale was behind this movement of funds. Whales refer to influential entities or individuals that own or hold significant amounts of a particular cryptocurrency in their wallets (Dogecoin, in this case).<\/span><\/p>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/uniquehot.com\/news\/dont-miss-the-boat-ethereum-whales-signal-bullish-run-with-40-million-bet\/\" target=\"_blank\" rel=\"noopener \">Whales<\/a> are often perceived as major players in the crypto market, as their buying and selling activities can have a substantial impact on a token\u2019s price. As such, their actions can be worth keeping an eye on, especially as they can lead to speculations and potential market shifts.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This particular transfer, where the Dogecoin whale moved their tokens from an exchange wallet to a self-custodial wallet, is known as an \u201c<a href=\"https:\/\/uniquehot.com\/all\/bitcoin-outflow-highest-ftx-crash-bullish\/\" target=\"_blank\" rel=\"noopener \">exchange outflow<\/a>.\u201d Typically, investors move their assets off trading platforms when they intend to hold onto their coins in the long term, indicating their faith in the future promise of the crypto.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, the movement of funds off exchanges can sometimes be a signal of fresh accumulation, as some investors prefer to withdraw their tokens immediately after purchase. All in all, considering the large-scale nature of the transfer, the latest movement of Dogecoin tokens off Robinhood might be a bullish proponent for the meme coin\u2019s price.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Meme Coins Facing Turmoil?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As of this writing, the <a href=\"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-600-rally-in-april-crypto-analyst\/\" target=\"_blank\" rel=\"noopener \">Dogecoin price<\/a> stands at around $0.1496, reflecting a notable 12% decline in the last 24 hours. The largest meme coin is down by close to 20% on the weekly timeframe, according to CoinGecko data<\/span><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, Dogecoin is not the only meme token to have witnessed this massive downturn in price, as other coins also posted double-digit percentage losses. Notably, the second-largest meme coin, <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-sell-pressure-price\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu<\/a>, is also deep in the red, with an almost 14% price drop in the past day.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/waiting-for-the-bitcoin-bull-run-to-resume-heres-the-indicator-to-watch-for\/\" target=\"_blank\" rel=\"noopener \">Waiting For The Bitcoin Bull Run To Resume? Here\u2019s The Indicator To Watch For<\/a><\/div>\n<div><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/bY0f0avd\/\" alt=\"Dogecoin\" width=\"2174\" height=\"1434\"><\/div>\n<pre style=\"text-align: center\">Dogecoin price experiences steep correction on the daily timeframe | Source: DOGEUSDT chart from <a href=\"https:\/\/www.tradingview.com\/x\/bY0f0avd\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<div class=\"disclaimer-shortcode\"><em>Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The price of Dogecoin has been experiencing a significant amount of bearish pressure in the past few days. This recent decline coincides with a general market downturn, which has seen other large-cap assets like Bitcoin and Ethereum tumble with notable losses. However, the meme coin\u2019s price might not be down for too long, especially after a major investor executed a massive transaction off a centralized exchange. The transfer, which an on-chain data tracker flagged, has sparked speculations in the DOGE community and could be bullish for the meme coin\u2019s price. Whale Transfers 150 Million Dogecoin From Robinhood According to data from blockchain transaction tracker Whale Alert, a substantial amount of Dogecoin has made its way off the Robinhood exchange. In the past day, an outgoing transfer of 150 million DOGE tokens, equivalent to more than $26 million, from the crypto trading platform was spotted on the Dogecoin blockchain. Related Reading: Litecoin (LTC) Breaks Records: 5 Million Long-Term Holders Signal Major Market Shift Given the magnitude of this transaction, it appears that a whale was behind this movement of funds. Whales refer to influential entities or individuals that own or hold significant amounts of a particular cryptocurrency in their wallets (Dogecoin, in this case). Whales are often perceived as major players in the crypto market, as their buying and selling activities can have a substantial impact on a token\u2019s price. As such, their actions can be worth keeping an eye on, especially as they can lead to speculations and potential market shifts. This particular transfer, where the Dogecoin whale moved their tokens from an exchange wallet to a self-custodial wallet, is known as an \u201cexchange outflow.\u201d Typically, investors move their assets off trading platforms when they intend to hold onto their coins in the long term, indicating their faith in the future promise of the crypto. Additionally, the movement of funds off exchanges can sometimes be a signal of fresh accumulation, as some investors prefer to withdraw their tokens immediately after purchase. All in all, considering the large-scale nature of the transfer, the latest movement of Dogecoin tokens off Robinhood might be a bullish proponent for the meme coin\u2019s price. Meme Coins Facing Turmoil? As of this writing, the Dogecoin price stands at around $0.1496, reflecting a notable 12% decline in the last 24 hours. The largest meme coin is down by close to 20% on the weekly timeframe, according to CoinGecko data. However, Dogecoin is not the only meme token to have witnessed this massive downturn in price, as other coins also posted double-digit percentage losses. Notably, the second-largest meme coin, Shiba Inu, is also deep in the red, with an almost 14% price drop in the past day. Related Reading: Waiting For The Bitcoin Bull Run To Resume? Here\u2019s The Indicator To Watch For Dogecoin price experiences steep correction on the daily timeframe | Source: DOGEUSDT chart from TradingView Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":603130,"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":[85675,7,87540,79600,83667,32968],"class_list":["post-603127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge-price","tag-dogecoin","tag-dogecoin-whale","tag-dogeusdt","tag-shiba-inu","tag-whale-alert"],"acf":[],"yoast_head":"\n<title>DOGE Price Set For Rebound? 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Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. 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