Mystery Wallet Snags $5.86M Dogecoin from Robinhood

A whopping 72.2 million  Dogecoin (DOGE), equivalent to approximately $5.86 million USD, was transferred from Robinhood to an unknown wallet. This is one of the massive transfers that have taken place over the past month. 

Notably whale movements

The past 24 hours have seen other substantial Dogecoin transactions, including a transfer of 100 million DOGE (worth $8.27 million) and 150 million DOGE (valued at $12.4 million) from Robinhood to unknown wallets. 

These transactions are part of a larger pattern of Dogecoin movements observed over the past month. 

Notably, there was a transfer of 150 million DOGE ($12.22 million) from an unknown wallet to Robinhood on Feb. 10, and a 63.7 million DOGE ($5.2 million) move from Bittrex to an unknown wallet on Feb. 9. 

Additionally, early in the month, 100 million DOGE ($7.83 million) and 103.3 million DOGE ($7.91 million) were transferred to Robinhood from unidentified wallets. 

Dogecoin's market dynamics

Despite the large transfers, Dogecoin's price has shown resilience and stability. Currently ranked #11 by market cap, DOGE is trading at $0.08098, with a 1.4% increase over the past 24 hours. 

The 24-hour trading volume for Dogecoin stands at $510.1 million. These figures show a robust market presence and investor confidence in Dogecoin despite the market's inherent volatility and the recent large-scale transactions.

However, as reported by U.Today, the OG meme coin is no longer among the top 10 biggest cryptocurrencies by market capitalization.