![374 million Dogecoin changes hands anonymously amid 19.4% DOGE crash](https://u.today/sites/default/files/styles/736x/public/2024-04/47221.jpg)
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Popular blockchain detective Whale Alert posted several tweets to share that over the past 24 hours, DOGE whales have become very active in transferring massive amounts of meme coins.
Several hundred millions of Dogecoin have been withdrawn from popular trading app Robinhood. This happened as the original meme cryptocurrency faced a staggering 19% crash, which is why many commentators suggested anonymous whales had bought the dip.
374 million DOGE moved, almost all recovered on Robinhood
Whale Alert detected three large transactions involving 150,000,000, 100,000,000, and 74,024,901 DOGE. The first two large chunks of meme coins were withdrawn from Robinhood, while the smallest DOGE amount here was a deposit on this popular trading platform.
In total, these 374 million Dogecoin The piece was valued at $55.8 million in fiat currency at the time these transfers took place.
Overall, the 74 million DOGE moved to Robinhood were either for sale or sent there for long-term storage. The platform is known for holding billions of DOGE on behalf of its clients, and as U.Today reported recently, a major DOGE contributor, Mishaboar, announced on the X app that Robinhood wallet accounts hold 30% of the entire circulating supply, being the largest. sole DOGE holder on the market.
Dogecoin sees 19% drop
Between Thursday and Friday of this week, the largest dog-themed coin, DOGE, saw a massive drop of around 19.5%. However, the coin then made two attempts to recover and has now pared some of its losses, rising by 6.71%. At the time of writing these lines, Dogecoin changes hands at $0.1708 on the Binance exchange.
The drop in DOGE prices follows the correction suffered by the world's largest cryptocurrency, Bitcoin. Friday, BTC suddenly plunged around 7%, losing about $2,500 in value, then partially recovering its losses. Over $300 million worth of cryptocurrencies have been liquidated across cryptocurrency markets.