Keith moved 300 million Dogecoin to Robinhood: what should DOGE holders prepare for?

Number of large transactions with Dogecoin (DOGE) increased noticeably against the backdrop of rising prices for the popular memcoin.

We analyze the latest actions of whales and figure out what token holders should prepare for.

How to buy Dogecoin (DOGE): top options in the BeInCrypto selection

300 million DOGE went to Robinhood

According to crypto tracker data Whale Alertjust recently, an unknown whale DDuXGruc1wwKF transferred 300 million DOGE to Robinhood.

At the current price of Dogecoin, the value of the tokens sent to the exchange is estimated at approximately $25 million. Interestingly, the transfer fee was only $0.18. This means that the whale fortunately chose a time when network congestion was low.

The transaction, as expected, attracted the interest of crypto market participants, who began to discuss the possible consequences of the sale of such a number of tokens. However, this is not the first time Whale Alert “detects” such movements. In October, the transfer of 300 million DOGE occurred three times, and last month – twice.

The number of Dogecoin holders continues to grow

Amid the ongoing rally, Dogecoin is showing significant growth in the total number of holders. Analytical platform IntoTheBlock found that on November 27, the total number of addresses with non-zero DOGE balances peaked at 5.02 million.

The main factor contributing to the surge in interest in memcoin has been the growing acceptance and interest in the crypto market as a whole. IN IntoTheBlock noted that the “ordinals” of the DRC-20 standard also contributed to the recent activity.

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