DOGE Whale Activity: Report
A recent report from Whale Alert, a blockchain tracking platform, reveals that a large amount of Dogecoin (DOGE) was transferred to the Robinhood exchange. An unknown wallet address transferred 300 million DOGE to Robinhood, totaling 25.03 million tokens.
This transfer has increased the token’s supply, leading to speculation in the crypto market. However, despite this dumping of tokens, DOGE has experienced a price jump.
DOGE Price Jumps
Currently, Dogecoin is valued at $0.08399 with a 3% surge in price. Over the past week, it has seen a 9% increase and a monthly upswing of 26%. The market cap has also grown by 3.13%, and trading volume in the past 24 hours is up by 9.32%.
These price surges align with insights from cryptocurrency analyst Ali, who believes DOGE is facing a significant obstacle at $0.087.
This level represents a convergence of Fibonacci levels and exponential moving averages (EMAs), creating a challenging barrier for DOGE to overcome.
Hot Take: What Lies Ahead for DOGE?
Despite the whale activity and potential obstacles, Dogecoin continues to generate interest in the crypto market. With its meme-based appeal and recent price gains, many are curious about its future trajectory. Only time will tell if DOGE can break through its current barriers and achieve further surges in value.
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