400 Million DOGE Sent to Robinhood as Dogecoin Reclaims Spot in Top 10

According to the data provided by the prominent cryptocurrency tracker Whale Alert, a massive amount of Dogecoin was transacted to the trading platform Robinhood.

More than one billion Dogecoin was transacted. These transfers happened after Dogecoin reclaimed its top ten position on CoinMarketCap.

681 million DOGE on the move

Data shared by the aforementioned source says that an anonymous whale made around half a dozen transactions which carried a whopping 1,081,987,848 DOGE in total. 400 million from this amount was sent to a popular brokerage firm Robinhood. This is the equivalent of $34,372,214 in fiat.

🚨 🚨 400,000,000 #DOGE (34,372,214 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/7fiXskuLF0

— Whale Alert (@whale_alert) February 15, 2024

These transfers took place as the largest meme cryptocurrency by the size of its market capitalization value, Dogecoin, returned to the top ten list of crypto assets on the CoinMarketCap scale and the DOGE price soared by over 8.6% within 24 hours.

By now, DOGE has pulled back a little, trading at the $0.0863 level at the time of this writing.

DOGE price following Bitcoin surge

Last year in December it was ten years since Dogecoin’s launch and earlier this week it was the 14th anniversary of the day when Shiba Inu dog’s (names Kabosu) photos were for the first time uploaded on Facebook in 2010 and inspired multiple memes and then eventually the creation of Dogecoin.

The recent Dogecoin surge followed the impressive rise of Bitcoin – the flagship cryptocurrency that was parodied by Dogecoin creators in 2013. Bitcoin has skyrocketed by 8% since Tuesday as spot Bitcoin ETF makers continued to absorb BTC at a fast pace. Just the other day, BlackRock’s IBIT ETF crossed the $5 billion level of inflows, seeing a rise from the $3 billion mark surpassed a little earlier.

Currently, according to multiple experts, Bitcoin ETFs are accumulating 12x the amount of Bitcoin generated per day (900 BTC). After the halvening in April, the amount of BTC produced daily will be reduced to 450 and the ETFs will continue with their accumulation.

Investor and entrepreneur Marc van der Chijs believes that, at this pace of Bitcoin accumulation, the leading cryptocurrency may regain its previous all-time high of $69,000 even before the halving arrives. What's more, he expects Bitcoin to reach $100,000 within the next 2-3 months thanks to that.