Dogecoin Whale Offloads 400 Mln DOGE To Robinhood, Price To Hit $0.09?
A massive transfer of 400 million Dogecoins (DOGE), worth $34.37 million, to Robinhood has sparked curiosity and speculation in the crypto market. The transaction, carried out by a significant whale, is contrary to the usual market sentiments of a token’s slump with a significant dump.
DOGE Whale Transaction: A Detailed Report
The whale dump was done by the wallet address DDuXGMFNGp…MBruc1wwKF and involved the transfer of 400 million DOGE to Robinhood, an American financial services company that also offers cryptocurrency exchange services.
Interestingly, the whale offloaded the coins amid a significant uptick in DOGE’s price, which has caught the attention of traders and investors globally.
Derivatives Data and Market Sentiment
The derivatives data for DOGE shows a substantial 12.67% surge in open interest, reaching $569.11 million. This indicates a bullish sentiment for the meme coin and aligns with the pump witnessed in the market today.
The surge in new money entering the market suggests positive investor sentiment and further supports the potential for DOGE’s price increase.
DOGE Price Jumps
In the past 24 hours, Dogecoin’s price has seen a substantial 3.29% jump and is currently trading at $0.08537. The coin traded as high as $0.08791, nearing the $0.09 mark, which has sparked bullish thoughts among market participants.
The overall positive sentiment for DOGE, as reflected in the increase in open interest, is expected to contribute to the coin’s upward momentum.
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