A large quantity of DOGE was purchased on Robinhood as the price dropped, presenting a chance to buy at a lower price.
Whale Alert, a well-known tracker of big cryptocurrency transactions, has reported a significant transfer of Dogecoin from the widely-used investment platform Robinhood.
Large Dogecoin Transactions Detected from Robinhood
In the last 24 hours, Whale Alert, a platform tracking significant cryptocurrency movements, has observed the transfer of several hundred million Dogecoins from the popular trading platform Robinhood.
🚨 150,000,000 #DOGE (23,552,001 USD) transferred from #Robinhood to unknown wallethttps://t.co/Z7kyHDma8i
— Whale Alert (@whale_alert) April 16, 2024
Two Twitter posts from Whale Alert indicate that two transactions withdrew 150,000,000 DOGE each from Robinhood, sending them to an unknown wallet identified as -1wwKF.
Over the past few days, this anonymous wallet has received various large Dogecoin transfers, including 30,000,000, 101,426, and 34,179,255 DOGE. On April 13, it received inflows of 350,000,000 and 34,584,043 Dogecoins.
🚨 150,000,000 #DOGE (23,283,510 USD) transferred from #Robinhood to unknown wallethttps://t.co/hPn7EU29eW
— Whale Alert (@whale_alert) April 15, 2024
On April 12, the wallet acquired 150,000,000 and 46,278,481 DOGE, following a transaction of 89,550,689 DOGE on April 8. As of now, this anonymous whale holds a total of 2,478,699,463 Dogecoins, valued at approximately $388,808,797.
Elon Musk’s Humorous Tweet Boosts Dogecoin
In a recent tweet, Elon Musk, known for his fondness for Dogecoin and memes, shared a humorous take on the popular “Biggus Dickus” joke from the movie Monty Python’s Life of Brian. The image featured characters from the film, with Musk depicted as a Roman legionary and the mainstream media as a member of the Roman senate. Musk’s character struggles to contain laughter while the senator speaks, symbolizing Musk’s amusement at Dogecoin’s rise to the top ten cryptocurrencies and the mainstream media’s newfound interest in it.
Market Reaction: Following Musk’s tweet, Dogecoin experienced a brief 4% increase in value. However, compared to three or four years ago, when Musk’s tweets had a more significant and prolonged impact on Dogecoin’s price, the recent effect was relatively smaller and shorter-lived. Despite this, Musk’s tweets continue to influence market sentiment around Dogecoin and other cryptocurrencies.
Important: 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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