As a researcher with a background in blockchain analysis and cryptocurrency markets, I find the recent transfer of a significant amount of Dogecoin (DOGE) to Robinhood, as reported by Whale Alert, intriguing. Coinciding with a nearly 5% price increase for DOGE, this transaction raises questions about potential market manipulation or institutional interest in the meme cryptocurrency.
Approximately ten hours ago, according to data from renowned blockchain investigator Whale Alert, a substantial quantity of Dogecoin (DOGE) was transferred to the well-known trading platform Robinhood.
It coincided with the DOGE price printing a rise of almost 5%.
Mysterious whale sends DOGE to Robinhood
Approximately 120 million DOGE, the popular meme cryptocurrency, was reportedly moved to Robinhood, a well-known investment platform, as mentioned earlier. At the time of the transfer over ten hours ago, this amount was equivalent to approximately $18,555,179 in value.
In the past 24 hours, this wallet has experienced significant withdrawals of approximately 48.3 billion, 150 billion, 118.3 billion, and 190 billion Dogecoins, in addition to the previously mentioned 120 million. The combined value of these transactions amounted to around 506.4 million Dogecoins, equivalent to approximately $71.1 million.
I’ve noticed two substantial transfers of Dogecoin to this wallet on May 16 and 17, representing 118,279,297 and 188,279,303 coins respectively. This translates to a total of 306.4 million Dogecoins when considering the current market value of approximately $47.5 million per coin.
After a week-long break, an unexpected increase in transactions was detected on this blockchain address. The last transaction took place on May 9. As of now, the enigmatic crypto hoarder controlling this address is reportedly in possession of 1,602,284,863 DOGE, translating to a staggering $248,626,542 based on current data from Blockchair.
Dogecoin price shows bullish reaction
I analyzed the transaction data, and interestingly enough, it occurred during a notable surge in Dogecoin’s price. Dogecoin experienced a significant 4.45% increase, pushing its value up to $0.15676. This price movement wasn’t a steady climb but rather a more complex pattern with three distinct rises and two corresponding declines.
After experiencing a significant price increase, DOGE underwent a slight recovery, reaching the current price of $0.15438 at which it is being traded.
DOGE founder makes gloomy AI prediction
One of the two co-creators of Dogecoin, Billy Markus, who goes by the name Shibetoshi Nakamoto on the X app (previously Twitter), has recently shared a pessimistic perspective about AI on his platform. Nevertheless, it appears that this statement might be more playful than prophetic. In the Matrix movie, Neo wakes up from a simulated reality to discover that humans are being produced by machines in the actual world.
“What’s your estimation, folks, before artificial intelligence surpasses human control according to Markus’ perspective in the crypto and tech realms?”
how long do y’all think we have until AI takes over humanity?
— Shibetoshi Nakamoto (@BillyM2k) May 17, 2024
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2024-05-18 11:17