DOGE Price Soars 4.45% as 120 Million Dogecoin Mysteriously Sent to Robinhood

Cover image via U.Today

Data from Whale Alert Reveals Dogecoin Transfer to Robinhood

Whale Alert, a renowned blockchain sleuth, has reported that a substantial amount of Dogecoin (DOGE) was transferred to the popular trading platform Robinhood approximately ten hours ago. This event coincided with a 5% increase in DOGE's price.

Mysterious Whale Sends DOGE to Robinhood

Whale Alert disclosed the transfer of a staggering 120,000,000 DOGE to Robinhood. At the time of the transaction, this amount was valued at $18,555,179.

🚨 120,000,000 #DOGE (18,555,179 USD) transferred from unknown wallet to #Robinhood
https://t.co/xojf8e81oe
— Whale Alert (@whale_alert) May 17, 2024

In addition to this transfer, the wallet has witnessed significant outflows over the past day, including 48,279,298, 150,000,000, 118,279,297, and 190,000,006 DOGE. These outflows totaled 506.4 million Dogecoin, with a value of $71.1 million.

Conversely, the wallet received two substantial DOGE transfers on May 16 and 17, amounting to 118,279,297 and 188,279,303 Dogecoin, respectively. These transfers totaled 306.4 million coins, valued at $47.5 million.

This surge in activity on the blockchain address follows a week-long pause, with the previous transaction occurring on May 9. According to Blockchair, the mysterious cryptocurrency whale currently holds 1,602,284,863 DOGE, equivalent to $248,626,542.

Dogecoin Price Shows Bullish Reaction

The aforementioned transaction coincided with a significant increase in the price of Dogecoin. The meme coin rose by 4.45%, reaching the $0.15676 level. The price increase was not linear, but rather a series of three rises and two declines.

The price surge was followed by a slight pullback, bringing DOGE to its current trading price of $0.15438.

DOGE Founder Makes Gloomy AI Prediction

Billy Markus, one of the two founders of Dogecoin, who goes by the pseudonym Shibetoshi Nakamoto on the X app (formerly Twitter), has shared a pessimistic AI prediction on his account. However, it appears to be more of an ironic post than an actual prediction. Markus referenced the classic film The Matrix, in which Neo awakens outside the virtual illusion and discovers that humans are being cultivated by machines.

"How long do y'all think we have until AI takes over humanity?" Markus tweeted to his 2.1 million followers. Markus is known for his ironic views on the crypto and tech industries.

how long do y’all think we have until AI takes over humanity? pic.twitter.com/DJhBmHIUWM
— Shibetoshi Nakamoto (@BillyM2k) May 17, 2024