Bittime - The movement of crypto asset owners in large numbers or whales often attracts attention and speculation among the crypto community. Recently, crypto whale movement tracking platform WhaleAlert revealed an unusual Dogecoin (DOGE) whale activity on Robinhood's platform, known for its no-fee trading service.
Whale Transfer Billions DOGE
An anonymous "whale", a term for large investors in the crypto world, was detected making mass transfers of Dogecoin (DOGE), with the astonishing sum of two billion DOGE. This phenomenon marks the active interaction between large investors and the popular investment application.
According to Whale Alert data, several large Dogecoin transactions occurred in the past day, with each transaction involving tens of millions of Dogecoins. In total, around 1.87 billion DOGE, which is equivalent to $196.9 million (around Rp3.1 trillion) has been transferred.
This shows that anonymous crypto whales have withdrawn nearly 50% of the total Dogecoin transferred from Robinhood. However, a similar amount of DOGE was also re-deposited into Robinhood after the withdrawal. This significant move highlights the active participation of large investors in the Dogecoin market, especially through platforms like Robinhood.
Check the Crypto Market Today:
Dogecoin Price Recovers
The crypto market as a whole is in a recovery phase, and Dogecoin is not lagging behind in this positive trend. In the last 24 hours, the price of Dogecoin has jumped by 4.5% to $0.18 (approximately Rp2,840). Daily trading volume for DOGE also increased by 51%, reaching $3.28 billion (around Rp51.8 trillion).
Also Read How to Buy Crypto:
Dogecoin Shifts Cardano's Position
Dogecoin is now outperforming Cardano in the market cap ranking. With DOGE's market capitalization at $26.05 billion (around Rp411.2 trillion), this cryptocurrency has surpassed the $24.08 billion (around Rp380.1 trillion) market capitalization of Cardano (ADA). This is not the first time for DOGE, as it had previously surpassed ADA's market capitalization in early March.
Over the past week, Dogecoin's price has registered a 44% increase, driven by the development of Elon Musk's X platform which successfully secured a key country license to process payments in the United States. Technical analysis shows that Dogecoin is showing strength confirming a new macro uptrend and a potential breakout of 45% ahead.
Meanwhile, Cardano's development activity has declined, dropping to 77.69 after reaching a peak of 128 in December 2023. To get back to the top of the list, Cardano needs to take more steps to build trust in its community.
These events imply fast-changing crypto market conditions, in which large investors play a key role in market dynamics. Their activities, as seen in the case of these Dogecoin transfers, can provide information about market trends and potential future price movements.
How to Buy Solana (SOL) on Bittime
You can buy and sell Solana (SOL) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Solana (SOL) is available on Bittime with the market pair SOL/IDR. To be able to buy SOL IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Solana (SOL) on Bittime.
Monitor the price chart movements of Solana (SOL), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Dogecoin (DOGE), a popular cryptocurrency based on memes
DOGE Coin (DOGE) Price Prediction According to Crypto Academy
Dogecoin Whale (DOGE) Moves 332.9 Million DOGE to Binance
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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