{"id":567103,"date":"2023-12-28T00:20:10","date_gmt":"2023-12-28T00:20:10","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=567103"},"modified":"2023-12-27T15:31:38","modified_gmt":"2023-12-27T15:31:38","slug":"dogecoin-whale-71-million-doge","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/dogecoin\/dogecoin-whale-71-million-doge\/","title":{"rendered":"Dogecoin Whale Moves 71 Million DOGE To Robinhood, What Does This Mean For Price?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">A Dogecoin whale address recently made a transfer of 71.2 million DOGE valued at $6.3 million into Robinhood from a private address. According to various social media posts by whale transaction tracker Whale Alerts, large DOGE transfers in and out of exchanges have seen an uptick since the beginning of the week. At the same time, the price of DOGE has traded between a high end of $0.097 and a low end of $0.089.<\/span><\/p>\n<h2>Massive DOGE Transfer Into Robinhood<\/h2>\n<p><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/shenyangcang.com\/news\/dogecoin\/dogecoin-whales-on-move-worrying-sign\/\"><span style=\"font-weight: 400\">uptick in massive DOGE transfers<\/span><\/a><span style=\"font-weight: 400\"> from whales has had investors thinking of the crypto&#8217;s outlook in the next few days. When whales make big transfers like this, it often signals they\u2019re about to make a major buy or sell order that can impact the price<\/span><span style=\"font-weight: 400\">.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/crypto\/crypto-asset-inflows-103-million\/\">The Crypto Bulls Are Back: Digital Asset Inflows Cross $103 Million In One Week<\/a><\/div>\n<p><span style=\"font-weight: 400\">In this case, data from on-chain data shows that the 71.2 million DOGE tokens were transferred from the private address &#8220;DF8jRK&#8221; to the Robinhood-linked address &#8220;DHQsfy.&#8221; The token transfer seems to have been a major part of the address&#8217; holdings. At the time of writing, the address &#8220;DF8jRK&#8221; holds 36.3 million DOGE tokens, worth approximately $3.3 million.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83d\udea8 71,224,271 <a href=\"https:\/\/twitter.com\/hashtag\/DOGE?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#DOGE<\/a> (6,392,254 USD) transferred from unknown wallet to <a href=\"https:\/\/twitter.com\/hashtag\/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Robinhood<\/a><a href=\"https:\/\/t.co\/mSNJ8HSSot\" rel=\"nofollow\">https:\/\/t.co\/mSNJ8HSSot<\/a><\/p>\n<p>\u2014 Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/64069146?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 26, 2023<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Consequently, the transfer to Robinhood, a major crypto exchange, suggests the whale may be preparing to sell their DOGE holdings, which could drive the price down.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On the other hand, Whale Alerts has <\/span><a href=\"https:\/\/shenyangcang.com\/news\/dogecoin\/10-million-worth-of-dogecoin-exit-robinhood-what-this-could-mean-for-price\/\"><span style=\"font-weight: 400\">reported other large transfers<\/span><\/a><span style=\"font-weight: 400\"> during the last few days. For example, 367 million DOGE tokens worth $33.6 million were <\/span><a href=\"https:\/\/twitter.com\/whale_alert\/status\/87092500?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">transferred between two unknown wallets<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Also, 999 million DOGE tokens worth $91 million were sent from Binance to an unknown wallet in the past 24 hours. However, the crypto exchange <\/span><a href=\"https:\/\/x.com\/binance\/status\/18758492?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">clarified <\/span><\/a><span style=\"font-weight: 400\">that the transfer was part of its standard wallet maintenance.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/mWabdJwx\/\" alt=\"Dogecoin price chart from Tradingview.com\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">DOGE bears continue to vie for control | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">DOGEUSD On Tradingview.com<\/a><\/pre>\n<h2>Current State Of Dogecoin<\/h2>\n<p><span style=\"font-weight: 400\">Dogecoin&#8217;s price movement this year has generally lacked the volatility and enthusiasm it has experienced from traders in past years. The crypto is currently trading at $0.09255, down by 0.29% in the past 24 hours, and has been stuck in a sideways movement. On the monthly timeframe, DOGE is up by 16% in the past 30 days.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-to-crash-to-36000\/\">Crypto Trading Firm Expects Bitcoin To Crash To $36,000, Here\u2019s Why<\/a><\/div>\n<p><span style=\"font-weight: 400\">DOGE recently hit a yearly high of $0.10 this December. According to crypto analyst Ali Martinez, network activity has increased this month, with a steady rise in the <\/span><a href=\"https:\/\/shenyangcang.com\/news\/dogecoin\/dogecoin-demand-doge-adoption-accelerating\/\"><span style=\"font-weight: 400\">creation of new DOGE addresses<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Dogecoin <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-5-3-million-holders-compares-top-coins\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">now has 5.29 million addresses<\/span><\/a><span style=\"font-weight: 400\"> with a balance, reiterating its position as the largest meme coin and the fifth-largest address count in the crypto market. However, IntoTheBlock\u2019s Active Addresses Ratio shows that the majority of these addresses are inactive, with only a 2.73% average in the past 30 days.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-567106 aligncenter\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/12\/Dogecoin-2.png?w=460&#038;resize=460%2C218\" alt=\"Dogecoin\" width=\"460\" height=\"218\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/12\/Dogecoin-2.png?w=512 512w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/12\/Dogecoin-2.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/p>\n<pre style=\"text-align: center\">Source: IntoTheBlock<\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Watcher Guru, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Dogecoin whale address recently made a transfer of 71.2 million DOGE valued at $6.3 million into Robinhood from a private address. According to various social media posts by whale transaction tracker Whale Alerts, large DOGE transfers in and out of exchanges have seen an uptick since the beginning of the week. At the same time, the price of DOGE has traded between a high end of $0.097 and a low end of $0.089. Massive DOGE Transfer Into Robinhood The uptick in massive DOGE transfers from whales has had investors thinking of the crypto&#8217;s outlook in the next few days. When whales make big transfers like this, it often signals they\u2019re about to make a major buy or sell order that can impact the price. Related Reading: The Crypto Bulls Are Back: Digital Asset Inflows Cross $103 Million In One Week In this case, data from on-chain data shows that the 71.2 million DOGE tokens were transferred from the private address &#8220;DF8jRK&#8221; to the Robinhood-linked address &#8220;DHQsfy.&#8221; The token transfer seems to have been a major part of the address&#8217; holdings. At the time of writing, the address &#8220;DF8jRK&#8221; holds 36.3 million DOGE tokens, worth approximately $3.3 million. \ud83d\udea8 71,224,271 #DOGE (6,392,254 USD) transferred from unknown wallet to #Robinhoodhttps:\/\/t.co\/mSNJ8HSSot \u2014 Whale Alert (@whale_alert) December 26, 2023 Consequently, the transfer to Robinhood, a major crypto exchange, suggests the whale may be preparing to sell their DOGE holdings, which could drive the price down. On the other hand, Whale Alerts has reported other large transfers during the last few days. For example, 367 million DOGE tokens worth $33.6 million were transferred between two unknown wallets.\u00a0 Also, 999 million DOGE tokens worth $91 million were sent from Binance to an unknown wallet in the past 24 hours. However, the crypto exchange clarified that the transfer was part of its standard wallet maintenance. DOGE bears continue to vie for control | Source: DOGEUSD On Tradingview.com Current State Of Dogecoin Dogecoin&#8217;s price movement this year has generally lacked the volatility and enthusiasm it has experienced from traders in past years. The crypto is currently trading at $0.09255, down by 0.29% in the past 24 hours, and has been stuck in a sideways movement. On the monthly timeframe, DOGE is up by 16% in the past 30 days.\u00a0 Related Reading: Crypto Trading Firm Expects Bitcoin To Crash To $36,000, Here\u2019s Why DOGE recently hit a yearly high of $0.10 this December. According to crypto analyst Ali Martinez, network activity has increased this month, with a steady rise in the creation of new DOGE addresses.\u00a0 Dogecoin now has 5.29 million addresses with a balance, reiterating its position as the largest meme coin and the fifth-largest address count in the crypto market. However, IntoTheBlock\u2019s Active Addresses Ratio shows that the majority of these addresses are inactive, with only a 2.73% average in the past 30 days. Source: IntoTheBlock Featured image from Watcher Guru, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":567135,"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":[1785,89174,85675,7,1803,1804,87540,79599,79600,14896,89615],"class_list":["post-567103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogecoin-whale","tag-dogeusd","tag-dogeusdt","tag-whale","tag-whale-news"],"acf":[],"yoast_head":"\n<title>Dogecoin Whale Moves 71 Million DOGE To Robinhood, What Does This Mean For Price?<\/title>\n<meta name=\"description\" content=\"A Dogecoin whale address recently made a transfer of 71.2 million DOGE valued at $6.3 million into 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