Dogecoin

<p><strong>The recent movement of a large amount of Dogecoin (DOGE) to the trading platform Robinhood has caught the attention of the cryptocurrency community.&nbsp;</strong></p>
<p>The crypto market is susceptible to Large transactions, which indicates the change in market dynamics.&nbsp;</p>
<p>In this instance, the transfer to <a href="https://www.thecoinrepublic.com/2024/02/08/metamask-and-robinhood-integration-to-improve-access-to-web3/" target="_blank" rel="noopener noreferrer nofollow">Robinhood</a> has sparked curiosity among traders and analysts, with many keeping a close eye on Dogecoin’s price for immediate changes.</p>
<p>The whale’s accumulation was first spotted by whale monitoring service Whale Alert, which pointed on the microblogging platform X (formerly known as Twitter) to massive DOGE transactions from Robinhood’s wallets to unknown wallets.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-large-whale-activity-ignites-curiosity-in-dogecoin-investors-strong"><strong>Large Whale Activity Ignites Curiosity In Dogecoin Investors&nbsp;</strong></h2>
<p>In a significant development, a whale—a term used to describe investors who hold large amounts of cryptocurrency—transferred a staggering 400 million DOGE, equivalent to approximately 62.8 million USD, from an unknown wallet to the trading platform Robinhood.&nbsp;</p>
<p>This transaction has raised concerns about a potential increase in sell-side pressure, as such transfers often indicate that a whale may be preparing to sell off assets.</p>
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  <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 400,000,000 <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DOGE</a> (62,825,933 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Robinhood</a><a href="https://t.co/Ghy0dGLZky" rel="noopener noreferrer nofollow">https://t.co/Ghy0dGLZky</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1787651364832583909?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 7, 2024</a>
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<p>The transfer of a substantial amount of DOGE to an exchange like Robinhood suggests that the whale could be looking to liquidate a portion of their holdings.&nbsp;</p>
<p>If this is the case, it could lead to an increase in the supply of Dogecoin on the market, potentially driving down the price in the short term.</p>
<h3 class="wp-block-heading" id="strong-dogecoin-price-in-the-descending-triangle-strong"><strong>Dogecoin Price In the Descending Triangle</strong></h3>
<p>The DOGE price again broke out of a descending triangle in 2024. It is going through price corrections, just like in previous cycles. This correction could trigger the next DOGE bull run.</p>
<p>Recently, the renowned analyst ALI also posted the forecast for dogecoin. He explained the historical price action of the dogecoin and how it can be repeated in the upcoming sessions.</p>
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  <p lang="en" dir="ltr">Now, in 2024, <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DOGE</a> has yet again broken out of a descending triangle!<br><br>It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DOGE</a> bull run! <a href="https://t.co/ZmuHmvIwei" rel="noopener noreferrer nofollow">pic.twitter.com/ZmuHmvIwei</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1785808743709434096?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 1, 2024</a>
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<p>Ali made a statement on Twitter (X) suggesting that DOGE is following a similar pattern to its 2018-2021 trajectory, which could lead to a significant bull run soon.</p>
<p>In the tweet, Ali stated that Dogecoin is again displaying its classic pattern. Currently, $DOGE is consolidating after breaking out from a descending triangle.&nbsp;Based on historical trends, there is a possibility that DOGE could reach $1 in the next few weeks!&nbsp;</p>
<p>If Ali’s analysis comes true, Dogecoin investors could potentially see outstanding returns of over 2600% in the coming months.</p>

Dogecoin Whale Activity Sparks Market Speculation: What Next In DOGE

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Thecoinrepublic.com

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