155 Million DOGE Moved to Robinhood Amid Price Surge

A massive Dogecoin transaction has caught the attention of crypto watchers. Blockchain tracker Whale Alert reported that 155,000,000 DOGE—worth approximately $24.6 million—was transferred from an unknown wallet to the Robinhood trading platform within the past 13 hours. This significant movement comes as Dogecoin's price rallies alongside a broader crypto market rebound.

Dogecoin surged up to 10% in early Tuesday trading, hitting a high of $0.1677 before settling at $0.163, up 7% in the last 24 hours, according to CoinMarketCap. The recent price increase follows a sharp decline over the weekend and marks a rebound from Sunday’s low of $0.142. DOGE had previously dropped from its June 11 peak of $0.206, recording only two positive days in the past 12.

The purpose behind the large transfer to Robinhood remains unclear. However, exchange deposits are often interpreted as a sign that investors may be preparing to sell. It’s also possible that the move was a simple reshuffling of assets.

The current DOGE rally may face resistance at $0.17. A failure to maintain this level could lead bears to push the price below $0.14, potentially triggering a drop toward $0.10. On the upside, if buyers break through $0.17, Dogecoin could climb to the 50-day simple moving average around $0.19. Analysts believe sellers will attempt to defend that level, likely keeping DOGE trading between $0.14 and $0.21 for the near term.

The Dogecoin community remains on alert as this large transfer and price volatility suggest a potentially pivotal moment for the meme-based cryptocurrency.