People who follow cryptocurrencies have been talking about a significant event that involved Dogecoin. At the same time, the price of the meme-themed digital currency declined significantly.
A substantial amount of DOGE was sent to a well-known trading platform in the last 24 hours, according to data shared by the Whale Alert analytics X/Twitter account.
According to reports, an unknown entity known in the crypto world as a whale moved an incredible 245 billion DOGE to the well-known trade platform Robinhood about 12 hours ago. The Dogecoin community is highly engaged in this trade, which was worth $49,622,788 at the time.
The move happened at the same time that the price of DOGE declined sharply near to 8% in the last day. There has been a slight rebound, though, with a 2.02% rise since the drop. Today, DOGE is selling at $0.1964, down from $0.2084, which was its previous high point.
Dogecoin Myth Dispute
Because of the transaction and the following change in price, an established Dogecoin contributor named Mishaboar went on Twitter to talk about it.
Mishaboar disagreed with past claims made by former Binance CEO Changpeng Zhao and some cryptocurrency YouTubers that a single entity, commonly referred to as the DOGE whale, owned an enormous quantity of DOGE.
Mishaboar made it clear that the Robinhood exchange, which holds the assets for its users, is the most significant purchaser of Dogecoin that has been found so far.
There was earlier speculation that influential individuals like Elon Musk might be behind the substantial Dogecoin holdings, but Mishaboar emphasized how important it is to do an extensive amount of research before entering the crypto space.
