DOGE, the most popular meme cryptocurrency, has dropped by 30% in the last 24 hours while 250 million dogecoins were transferred to Robinhood. Doge has already started to recoup.
WhaleAlert account discovers 100 million transactions
The @DogeWhaleAlert account, which monitors massive Dogecoin transfers, has discovered two transactions totalling over 100 million Dogecoins.
Two DOGE chunks, each including 110,614,220 and 139,261,848 meme coins, valued $8,497,274 and $11,625,997, respectively. The second Dogecoin payment was made via the renowned Robinhood trading application. It allows consumers to trade inequities as well as cryptocurrencies such as Bitcoin, Ethereum, Solana, DOGE, Shiba Inu etc
🐕🪙🐋🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨
139,261,848 $DOGE ($11,625,997 USD) was transferred from an unknown wallet to a #Robinhood wallet.
Fee: 0.756 ($0.063 USD)
Tx: https://t.co/ADkdxMqG32#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
— Ðogecoin Whale Alert (@DogeWhaleAlert) May 11, 2022
On behalf of its customers, Robinhood presently possesses 40,998,170,618 DOGE. This is equivalent to $4,390,002,113 and represents 30.90% of the DOGE circulated supply.
DOGE drops 30%
Dogecoin has lost 30% of its value in the last 24 hours, falling from $0.160 to $0.0723, after Bitcoin’s drop to $27,000 and Terra’s UST shedding its dollar peg.
However, the currency has started to recoup some of its losses, climbing 9.47%. DOGE is now trading at $0.0793 on Binance.
DOGE has plummeted 90% since its record high on May 8 last year. After Elon Musk called himself “The Dogefather” on Twitter and subsequently appeared on Saturday Night Live, the meme coin rocketed to $0.7376. (SNL) after his debut.
