NEW YORK - Robinhood (NASDAQ:HOOD), the popular trading platform, has seen a flurry of Dogecoin (DOGE) activity over the past week, with significant transfers coinciding with a notable increase in the meme cryptocurrency's price. A Dogecoin whale moved over 103 million DOGE from Robinhood today following a substantial price uptick.
The series of large-scale transactions began on November 7, when Robinhood received a massive transfer of 250 million DOGE, valued at approximately $50.3 million at the time. The activity continued into early November with two separate transactions involving 75.3 million and 73.6 million DOGE, respectively.
On Sunday, another notable transfer occurred as 140.6 million DOGE were moved from Robinhood to an unidentified wallet. This was followed by an anonymous transfer of 690 million DOGE between unknown wallets on Tuesday.
Dogecoin's price has experienced a surge, currently standing at $0.076853 according to CoinGecko data. The market capitalization of the digital currency is at $10.94 billion, with a 24-hour trading range between $0.074809 and $0.082678 and over $1.73 billion in trading volume.
The recent spike in Dogecoin's value and trading activity is partially attributed to the growing excitement within the Dogecoin community regarding Astrobotic's upcoming launch of a physical Dogecoin token to the moon in December. This event has captured the attention of cryptocurrency enthusiasts and contributed to the heightened movements of Dogecoin across wallets and exchanges.
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