The cryptocurrency community is abuzz with speculation following the staggering 118.4 million figure. Dogecoin DOGE/USD transfer to the investment platform Robin Hood.
This transaction, reported by Whale Alert on
The massive influx of DOGE to Robinhood, valued at over $33.8 million, sparked a wave of speculation among social media users regarding the identity of the sender.
Some members of the X community have humorously suggested that Elon Muska well-known Dogecoin enthusiast, could be behind these transactions.
Last week, Musk hinted during his speech at the Tesla Giga Event in Berlin that Tesla might accept DOGE payments in the future.
Read also: Forget Dogecoin and Shiba Inu – This Meme Coin Surged Nearly 70% in Just 24 Hours
Musk reiterated his support for Dogecoin, calling it “the people’s currency” and comparing it to Bitcoin.
This announcement led to a significant rise in the value of Dogecoin, with an increase of almost 17% between Wednesday and Thursday, although it was followed by a decline of 15%, bringing the price down to $0.1621.
Speculation surrounding these large Dogecoin transactions and Musk’s comments highlight the continued interest and volatility in the cryptocurrency market, especially with meme coins like DOGE.
Meanwhile, recently data by IntoTheBlock highlighted a 39.78% increase in large trading volumes for SHIB, totaling 14.36 trillion SHIB in a single day.
This spike in activity indicates increased interest from major investors, often seen as a bullish signal in the crypto space.
Amidst these market movements, the Shiba Inu ecosystem is buzzing with anticipation of upcoming updates. Developer Kaal Dhairya recently unveiled new features for the Shibarium blockchain explorer “Shibariumscan”, aimed at improving usability and providing deeper insights to developers and users.
At the time of writing, Dogecoin was trading at $0.1525, down 10% over the past seven days.
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