Dogecoin, one of the most prominent meme coins by global market cap, curated a torrent of speculative buzz across the global crypto realm on Tuesday, February 13, following the surfacing of noteworthy whale data unveiled by the tracker Whale Alert. An unknown wallet address was recorded, withdrawing a whopping 350 million DOGE from Robinhood, a renowned investment and trading platform, as per the data.
This data promptly sparked immense curiosity among crypto traders and investors globally as it emerged amid Dogecoin’s sudden pump. Meanwhile, derivatives data for the meme coin showcased a bullish sentiment within the market, aligning with the pump in price witnessed today.
DOGE Whale Activity Coincides With Derivatives Data
According to the data revealed by the blockchain tracker mentioned above, the unknown wallet address, DDuXGMFNGp…MBruc1wwKF, accumulated 250 million DOGE from Robinhood in two massive transactions. Concerning this, the mentioned wallet was observed gathering 100 million DOGE in its first transaction, whereas it amassed another 150 million DOGE in another transaction. The total number of coins shifted from Robinhood totaled $20.67 million as of writing, nabbing significant attention among crypto market traders and investors.
In the interim, this significant accumulation also appears to be falling in line with the jump in DOGE price today, syncing with the token’s reduced supply.
Additionally, Dogecoin’s derivatives data indicated a substantial 4.58% increase in the token’s open interest today, reaching $498.27 million. In tandem with the price pump noted, the surge in open interest indicates an uptrend in the market, as also mirrored by the whale data. The whale’s significant buying and the rise in open interest portray new money entering the market, signaling an increased activity among investors. This seems to have piqued the attention orbiting DOGE across the cryptocurrency realm.
Dogecoin Price Springs
The Dogecoin price chart illustrated a noteworthy 2.49% upswing in the past 24 hours, reaching $0.08177 as of press time. Intriguingly, the token’s market cap noted a 2.50% jump, accompanied by a 24-hour trading volume upswing of 54.96%, mirroring the surge in trading activity for the meme coin as mentioned above
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