DOGE 12% Up as Close to Half Billion Dogecoin Goes to Coinbase and Robinhood

According to the data published by the prominent blockchain sleuth Whale Alert, which tracks down large cryptocurrency transactions, almost half a billion Dogecoin has been sent to two leading trading platforms with a likely goal to be sold. It happened amid the large price increase of Dogecoin that has occurred this week.

Prior to these two transactions, three large DOGE lumps were withdrawn from the Robinhood investment platform.

🚨 89,999,572 #DOGE (15,186,295 USD) transferred from unknown wallet to #Coinbasehttps://t.co/ltMb7UkBfF

— Whale Alert (@whale_alert) May 22, 2024

680.9 million DOGE on the move

The above-mentioned source of data published announcements about five enormous transactions which transferred almost 681 million DOGE. The latest two of them carried 89,999,572 and 300,000,000 DOGE meme coins to two leading cryptocurrency trading venues – Coinbase and Robinhood. These transfers were valued at $65.5 million in fiat. Those were likely potential sales to be made on those exchanges.

🚨 🚨 🚨 300,000,000 #DOGE (50,403,127 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/dAvuSOIVWR

— Whale Alert (@whale_alert) May 21, 2024

Earlier than those, Whale Alert registered three more transactions. The carried 82,698,136, 70,081,079, and 138,326,037 Dogecoin. That was a cumulative equivalent of $48.7 million and that amount of crypto was withdrawn from Robinhood to anonymous blockchain wallets, signifying purchases and transfers to cold storage wallets.

Dogecoin remains a subject of interest to crypto whales as this is one of the top ten digital assets with wide adoption. Besides, it is supported by the tech billionaire Elon Musk and many within the DOGE community cherish hopes that Elon will integrate DOGE on X this year once internal payments are launched.

Dogecoin spikes 12% over past days

Over the past few days, the largest and the oldest canine-themed cryptocurrency Dogecoin has printed an impressive price increase of more than 12% as it soared from $0.1520 on Monday to $0.1716 earlier today.

However, that immense growth was followed by a decline of more than 3%, bringing the price down to the $0.1667 level.

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