Price: $0.19288 -5.0999%
Market Cap: 28.29B 1.1365%
Volume (24h): 4.08B 0.2%
Dominance: 1.1365%
Price: $0.19288 -5.0999%
Market Cap: 28.29B 1.1365%
Volume (24h): 4.08B 0.2%
Dominance: 1.1365% 1.1365%
  • Price: $0.19288 -5.0999%
  • Market Cap: 28.29B 1.1365%
  • Volume (24h): 4.08B 0.2%
  • Dominance: 1.1365% 1.1365%
  • Price: $0.19288 -5.0999%
Home > Information news > Whale Sells Massive Dogecoin on Robinhood

Whale Sells Massive Dogecoin on Robinhood

Release: 2024/05/18 14:37 Reading: 481

Original author:BH NEWS

Original source:https://coinmarketcap.com/community/articles/66484756a799ac235825a98f

Whale Sells Massive Dogecoin on Robinhood

,You can also read this news on BH NEWS: Whale Sells Massive Dogecoin on Robinhood
A major transaction involving Dogecoin has stirred the crypto market. An anonymous whale recently transferred 120 million DOGE valued at $18.55 million to the Robinhood exchange. This significant move has sparked concerns among investors regarding Dogecoin’s price trajectory.
What Triggered the Whale Transfer?
Whale Alert, an on-chain analysis platform, reported this massive transfer from an address beginning with DDuXG to Robinhood. The move occurred during a period of rising DOGE prices, hinting that the whale might be attempting to capitalize on the price surge.
Interestingly, the same address accumulated 226 million DOGE from Robinhood last month when DOGE was around $0.13. With DOGE now sitting at approximately $0.15, the whale has seen substantial gains. Such large-scale sales typically lead to selling pressure, causing worry among investors. Nonetheless, Dogecoin has managed to maintain a positive trading stance.
How is Dogecoin Performing Now?
Recent data shows DOGE trading at $0.1561, marking a 3.65% increase over the last 24 hours. The memecoin‘s 24-hour trading range has been between $0.1495 and $0.1569. Its market cap stands at $22.41 billion, displaying resilience against potential selling pressures.
Meanwhile, Coinglass derivative data indicates a 7.06% rise in Dogecoin’s open interest (OI), now at $869.93 million. However, derivative trading volume has fallen by 7.10% to $1.44 billion. The Relative Strength Index (RSI) is at 52, signifying that DOGE is neither overbought nor oversold, contributing to mixed market sentiments.
Key Takeaways for Investors
Investors should consider the following points:

Large-scale transactions can influence DOGE’s price and market sentiment.
Current DOGE price remains resilient despite significant sales.
Mixed derivative data highlights the speculative nature of the market.

In conclusion, while the massive Dogecoin transfer has introduced uncertainty, the market has shown notable resilience. Investors should remain vigilant and consider these factors when making decisions.
The post first appeared on BH NEWS: Whale Sells Massive Dogecoin on Robinhood

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.