DOGE Price Soars Amidst Massive Transfer to Robinhood

Is DOGE Poised to Defy the Odds and Soar to $1? Experts Weigh In

Popular blockchain sleuth Whale Alert reported that over ten hours ago, a substantial amount of Dogecoin (DOGE) was transferred to the major trading platform Robinhood. This transfer coincided with DOGE’s price increasing by nearly 5%. Specifically, Whale Alert noted that 120,000,000 DOGE, valued at $18,555,179 at the time, was sent to Robinhood.

Massive Outflows From a Single Wallet

In the past 24 hours, this particular wallet has seen significant outflows, including chunks of 48,279,298, 150,000,000, 118,279,297, and 190,000,006 DOGE. These transactions amounted to a total of 506.4 million Dogecoin, worth $71.1 million. Additionally, two large transfers were made to this wallet on May 16 and 17, consisting of 118,279,297 and 188,279,303 DOGE. 

Related article: Dogecoin (DOGE) Price Analysis: DOGE Stalls at Resistance, But Hope Flickers for a Breakout

These transfers added up to 306.4 million coins, valued at $47.5 million. This surge in activity followed a week-long pause, with the previous transaction occurring on May 9. As of now, the mysterious whale holds 1,602,284,863 DOGE, equivalent to $248,626,542, according to Blockchair.

Related article: Dogecoin (DOGE) Price Analysis: Bullish Momentum and Key Technical Levels

The aforementioned transaction aligned with a notable increase in Dogecoin’s price. The meme coin surged by 4.45%, reaching $0.15676. This rise was not linear but occurred through three rises and two declines. Following the price surge, DOGE experienced a slight rebound, settling at $0.15438, where it currently trades.

Founder’s Gloomy AI Prediction

Meanwhile, Billy Markus, one of Dogecoin’s founders, known as Shibetoshi Nakamoto on the X app (formerly Twitter), shared a pessimistic outlook on AI. Markus referenced the classic movie “The Matrix,” where Neo awakens to discover humans are grown by machines. 

He tweeted, “How long do y’all think we have until AI takes over humanity?” to his 2.1 million followers. Markus is well-known for his ironic views on the crypto and tech industries. The significant Dogecoin transfer to Robinhood has stirred market activity, boosting DOGE’s price by 4.45%. The whale responsible for the transfer has been notably active, with substantial inflows and outflows in recent days. 

As Dogecoin’s market dynamics evolve, its founder’s ironic take on AI adds an intriguing twist to the ongoing narrative.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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