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Amid Dogecoin Crash, 374 Million DOGE Moved From Robinhood To Unknown Wallet

Published 13/04/2024, 23:08
Updated 14/04/2024, 00:10
© Reuters.  Amid Dogecoin Crash, 374 Million DOGE Moved From Robinhood To Unknown Wallet

Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.

The Dogecoin (CRYPTO: DOGE) community observed significant activity among whales, as they transferred vast quantities of the meme coin in the last 24 hours.

This flurry of activity coincided with a 19.4% decline in DOGE's price on Friday, prompting speculation that these anonymous whales might seize the opportunity to buy the dip.

According to Whale Alert, there were three substantial transactions totaling 374 million DOGE, valued at approximately $55.8 million.

Robinhood

Also Read: Forget Dogecoin And Shiba Inu — This Meme Coin Has Surged Nearly 70% In Just 24 Hours

The decline in Dogecoin's price reflects a broader correction in the cryptocurrency market, mirroring Bitcoin's sudden 7% drop.

This market turbulence resulted in over $300 million worth of crypto liquidations across various platforms.

Despite the downturn, Dogecoin has managed to recoup some of its losses. It is currently trading at $0.1708 on the Binance exchange, marking a 6.71% recovery.

Now Read: Dogecoin Set to Surge Over 200%, Says Crypto Analyst: 'It's Going To Do Something Insane This Cycle'

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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