Dogecoin Whale Accumulates 250 Mln DOGE From Robinhood As Price Tops $0.082
Recently, an unknown wallet address withdrew a massive amount of Dogecoin (DOGE) from Robinhood, a popular investment and trading platform. This news has sparked curiosity among crypto traders and investors, especially considering the sudden pump in DOGE’s price. Additionally, derivatives data for DOGE has shown a bullish sentiment in the market, further supporting the price increase.
DOGE Whale Activity Coincides With Derivatives Data
The unidentified wallet address, DDuXGMFNGp…MBruc1wwKF, acquired 250 million DOGE from Robinhood in two large transactions. The first transaction involved 100 million DOGE, while the second involved an additional 150 million DOGE. This accumulation of coins from Robinhood amounted to $20.67 million. It is worth noting that this significant accumulation aligns with the rise in DOGE’s price and a decrease in its supply.
Furthermore, derivatives data for DOGE revealed a 4.58% increase in open interest, reaching $498.27 million. This surge indicates an uptrend in the market and suggests new money entering the market. The combination of whale activity and increased open interest has attracted attention to DOGE within the cryptocurrency community.
Dogecoin Price Springs
In the past 24 hours, the price of Dogecoin has experienced a notable 2.49% increase, reaching $0.08177 at press time. This upward movement is accompanied by a 2.50% jump in market cap and a significant increase in trading volume by 54.96%. These indicators reflect the growing trading activity and interest in this meme coin.
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