200 Million DOGE in 24 Hours – What's Happening?

Blockchain Tracking Reveals Massive Dogecoin and Shiba Inu Transfers

Whale Alert, a leading blockchain tracking platform, has identified significant cryptocurrency movements involving Dogecoin (DOGE) and Shiba Inu (SHIB).

Massive 200 Million DOGE Withdrawal from Robinhood

On November 10th, 2024, a whale withdrew a staggering 200 million DOGE (approximately $45.7 million) from the popular trading platform Robinhood. The funds were transferred to an unknown blockchain wallet with a sizable balance of 30 billion DOGE.

SHIB Transfers to Coinbase

Two days prior, Whale Alert detected three separate transfers totaling 1.6 trillion SHIB (around $31.2 million) to Coinbase, the largest U.S.-based cryptocurrency exchange. Each transaction involved approximately 558 billion SHIB, originating from an anonymous wallet.

Market Reactions

The massive DOGE withdrawal coincided with a 13% price surge for the meme coin, reaching $0.232. As of time of writing, DOGE is trading slightly lower at $0.229.

SHIB has also experienced significant gains, skyrocketing by nearly 21% over the past 24 hours. It peaked at $0.00002309 before retreating slightly to its current price of $0.00002262.

Analyst Insights

Prior to the DOGE withdrawal, cryptocurrency analyst Ali Martinez noted a descending triangle pattern in Dogecoin's lower time frames. He predicted a 10% rise if DOGE broke above $0.198, potentially reaching $0.220.

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