Elon Musk’s Tweet Leads to 300 Million Dogecoin Transfer

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A prominent observer of cryptocurrency transactions, Whale Alert, has picked up on significant activity surrounding Dogecoin. Yesterday, this watchdog noticed a large quantity of Dogecoin – over several hundred million dollars’ worth – being transferred from the widely-used investment platform Robinhood.

🚨 150,000,000 #DOGE (23,552,001 USD) transferred from #Robinhood to unknown wallet— Whale Alert (@whale_alert) April 16, 2024

Two notable transactions on the blockchain, carefully observed by them, caught their attention. One individual transferred an enormous amount of 150 million DOGE from Robinhood to a wallet identified by the address “1wwKF”.

This mysterious movement has sparked curiosity among crypto enthusiasts and investors alike.

Recently, an enigmatic figure in the crypto community, referred to as an unidentified “whale,” has caused a stir in the meme cryptocurrency market. This secretive investor has been involved in several large transactions, including two transfers worth 150 million DOGE apiece.

In April, they acquired additional large quantities of DOGE, ranging between 30 million and 350 million coins, on various dates. Currently, this enigmatic investor controls an impressive sum of 2.48 billion DOGE, equivalent to approximately $388.8 million in value.

Elon Musk, an influential DOGE supporter, recently made a lighthearted comparison on Twitter between himself and a Roman soldier trying to suppress chuckles at the media’s unexpectedly solemn take on DOGE, referencing Monty Python’s “Life of Brian.”

In spite of earlier criticism, DOGE‘s entry into the top ten cryptocurrencies caused a 4% price surge following Musk’s tweet. Previously, Musk’s tweets had more significant and prolonged impacts on DOGE’s pricing, but this influence has lessened with time.

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2024-04-16 13:56