Today, the crypto space erupted with intrigue following the transfer of a whopping 310 million Dogecoin (DOGE), valued at $51.07 million. Whale Alert data revealed the movement from the address “DEgDV” to “DDuXG,” igniting speculation within the popular meme cryptocurrency community.
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What’s catching everyone’s attention is the potential tie to Robinhood, the U.S.-based brokerage giant. Sources suggest that the sender’s address, holding 30.97 billion DOGE, worth $5.07 billion, could be linked to Robinhood. Meanwhile, the recipient address now holds 2.14 billion DOGE, valued at $350 million.
This transfer coincides with Robinhood’s recent announcement of its plans to acquire Bitstamp, an old major European cryptocurrency exchange, for approximately $200 million in cash. The acquisition, planned for completion by the first half of 2025, adds an interesting layer to the narrative.
What is clear is that this transfer marks a significant event in Dogecoin’s journey, with the sender’s address emerging as the largest DOGE holder, controlling around 23.4% of the total volume. This wallet’s origin in May 2023 aligns with Dogecoin’s surge in popularity, especially on platforms like Robinhood, which served as a gateway for many new cryptocurrency investors.
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With major acquisitions and large-scale movements shaping the market, all eyes are on how this narrative will impact the DOGE price in the coming days.
