Dogecoin Soars As Whale Moves 200 Million DOGE From Robinhood

Dogecoin ( DOGE ), the meme coin, has experienced a surge in investor interest and price increases amidst a period of downturns in the broader crypto sphere. This resurgence has been attributed to a massive movement of 200 million Dogecoins ( DOGE ) from Robinhood to an unknown wallet, which has sparked DOGE 's recent upward price movement. As a result, Dogecoin's value crossed the $0.18 mark on Saturday, fueling speculation about its potential to reach the $1 milestone. At present, DOGE is trading at $0.1865, up by almost 7% in the last 24 hours.

Whale Alert reported that the DOGE movement was carried out in two transactions totaling approximately $35.45 million. The wallet gathered 199.27 million DOGE through two transactions within the last 24 hours, with the initial transaction involving the acquisition of 100 million DOGE , valued at $17.77 million, sourced from Robinhood.

The transactions have notably contributed to a bullish sentiment among investors and analysts in the crypto community, who are excited about Dogecoin's resilience and its implications for future market movements. With the upcoming Bitcoin halving event, many in the crypto space are closely watching meme coins like Dogecoin, anticipating possible price rallies similar to Bitcoin's post-halving performances.

Last week, Dogecoin ( DOGE ) saw a remarkable $800 million increase in open interest within three days. The price of DOGE surged by 35%, hitting a weekly high of $0.17. This news came as Elon Musk's X Payments LLC, a social media offshoot of his X motif (X.com, SpaceX, xAI), expanded its operational footprint by securing money transmitter licenses in three additional states: New Mexico, Oregon and Illinois, further fueling investor excitement.