Dogecoin Whale Moves 200 million DOGE to Robinhood
Amid a bullish market sentiment in which top cryptocurrencies such as Bitcoin, Ethereum, Solana, Dogecoin, and many others are experiencing upward momentum, a blockchain transaction tracker, Whale Alert, recently posted on X (previously Twitter) that an unknown wallet address had moved a massive 200 million Dogecoin worth $30.8 million to the Robinhood exchange.
However, it is unclear whether it is still being determined whether the whale is selling his DOGE holding for profit or transferring for other reasons. Yesterday, on May 15, 2024, when the United States issued the CPI data (Consumer Price Index), the whole cryptocurrency market skyrocketed. Additionally, following the release of CPI statistics, the DOGE token rose by nearly 15%.
DOGE Price Spikes by over 4%
DOGE is currently trading near $0.153 and has witnessed over 4% positive momentum over the last 24 hours, reaching a high of $0.159. Let’s look at DOGE’s performance over a more extended period. The price has risen by more than 6% in the last seven days but gained over 2% of its value in the previous 30 days due to much uncertainty.
The 24-hour trading volume demonstrates traders’ and investors’ lack of interest and confidence in DOGE, which had only a 4.5% increase, amounting to approximately $1.7 billion. Furthermore, the Open Interest (OI) in the last 24 hours is only 3.5%. However, the OI in the previous 4 hours has decreased by 3.5%, indicating weaker interest among traders and investors.