The Dogecoin price has jumped due to a large amount of the original meme coins being transferred to a popular trading platform.
According to data from Whale Alert, a large amount of Dogecoin (DOGE) was sent to the major trading platform Robinhood a little over ten hours ago. This transfer coincided with a nearly 5% rise in DOGE’s price.
Surge in Dogecoin Transfers to Robinhood and Large Wallet Activity
Recent reports indicate a significant movement of Dogecoin (DOGE) to the investment platform Robinhood. A notable transaction involved 120,000,000 DOGE, valued at $18,555,179 at the time of transfer over 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
In addition to this transfer, significant outflows from another wallet have been observed over the past day. These include transactions of 48,279,298 DOGE, 150,000,000 DOGE, 118,279,297 DOGE, and 190,000,006 DOGE, totaling 506.4 million DOGE worth $71.1 million.
Further transactions to this wallet occurred on May 16 and 17, amounting to 118,279,297 DOGE and 188,279,303 DOGE, totaling 306.4 million DOGE valued at $47.5 million. This heightened activity follows a week-long pause since the last transaction on May 9.
As of the latest data from Blockchair, this wallet now holds 1,602,284,863 DOGE, equivalent to approximately $248,626,542.
Dogecoin Price Surge and Billy Markus’ Ironic Tweet
Following a substantial increase in Dogecoin’s price, the meme coin rose by 4.45%, reaching the $0.15676 level. The price movement was characterized by three increases and two declines, creating a non-linear surge. After peaking, the price experienced a minor retreat, settling around $0.15438 at the time of writing.
In a separate development, one of Dogecoin’s founders, Billy Markus, known as Shibetoshi Nakamoto on X app (formerly Twitter), posted a satirical take on artificial intelligence (AI). Markus posed a rhetorical question to his 2.1 million followers, referencing the movie “The Matrix,” where Neo discovers humans are being cultivated by machines in a simulated reality.
how long do y’all think we have until AI takes over humanity? pic.twitter.com/DJhBmHIUWM
— Shibetoshi Nakamoto (@BillyM2k) May 17, 2024
Markus’ tweet humorously pondered, “How long do y’all think we have until AI takes over humanity?” His commentary reflects his well-known ironic perspective on crypto and technology topics.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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