DOGE Price Soars 4.45% with 120 Million Dogecoin Mysteriously Sent to Robinhood

18.05.2024

Data provided by the popular blockchain sleuth Whale Alert shows that slightly more than ten hours ago a hefty amount of the original meme cryptocurrency Dogecoin (DOGE) was sent to a major trading platform Robinhood.

It coincided with the DOGE price printing a rise of almost 5%.

Mysterious whale sends DOGE to Robinhood

The aforementioned source spread the word about a staggering 120,000,000 DOGE getting transferred to the renowned investment platform Robinhood. This amount of the OG meme cryptocurrency was valued at $18,555,179 at the time of the transfer more than ten hours ago.

🚨 120,000,000 #DOGE (18,555,179 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/xojf8e81oe

— Whale Alert (@whale_alert) May 17, 2024

Over the past day, this wallet has seen massive outflows of 48,279,298, 150,000,000, 118,279,297, and 190,000,006 DOGE chunks, apart from the above-mentioned 120 million. That totaled 506.4 million Dogecoin worth $71.1 million.

Aside from that, two big DOGE transfers were made to this wallet on May 16 and 17 – 118,279,297, 188,279,303 Dogecoin. That comprises 306.4 million coins evaluated at $47.5 million.

This surge in activity on this blockchain address was noticed after a week’s pause – the previous transaction was made on May 9. At the time of this writing, this mysterious cryptocurrency whale holds 1,602,284,863 DOGE, according to the data provided by Blockchair. That is the equivalent of $248,626,542.

Dogecoin price shows bullish reaction

The aforesaid transaction coincided with a substantial Dogecoin price increase as the meme coin added 4.45%, reaching the $0.15676 level. This was not a linear rise but rather a curve that made three rises and two declines.

The price surge was followed by a marginal rebound, pushing DOGE to the $0.15438 mark, where the meme cryptocurrency is changing hands as of this writing.

DOGE founder makes gloomy AI prediction

One of the two Dogecoin founders, Billy Markus, known as Shibetoshi Nakamoto on the X app (formerly Twitter) has published a negative AI outlook on his account. This, however, seems to be rather a post of irony than an actual prediction – Markus referred to the classic Matrix movie, where Neo awakens in the capsule outside the virtual illusion and sees that humans in reality are being grown by machines.

“How long do y’all think we have until AI takes over humanity?” Markus tweeted, addressing his 2.1 million followers. Markus is known for his ironic views on the crypto and tech spaces.